Stories Talk | Presentation Skills and Effective Storytelling
The 1990's shed light on the potential of Human Resources departments, but the 2000s imbued companies with the agony of attracting and retaining talent.
By Mia Kollia
Translated by Alexandros Theodoropoulos
The beginning of the 21st century was marked by relentless tactics of attracting employees, where companies made targeted job offers to staff of other companies. There was a simple and clear reason behind this: companies wanted to acquire talent with specialised knowledge to fill demanding vacancies.
But the result was not the desired one. Employees switched from one company to another, based solely on wage criteria. Most of them lost all interest in the real essence of their work, leading to a general frustration for the development and structure of the business environment.
In recent years there has been a rebirth of the concept of “loyalty workforce”. More and more employees show loyalty and commitment to the culture and goals of the company that they work for. Current studies confirm that this approach has much better results and every company nowadays gives priority to the management, engagement and retention of their talented workforce.
Talent management is defined as the tactically organised and strategic process for acquiring the right talent, followed by the best possible management and support in order to develop and reach the maximum of their potential, always aiming to fulfill the organisational goals of the company.
State of the art successful companies make their choices for the talents they hire, not only on the basis of technical knowledge, but with the criterion of acquiring employees that will suit the internal culture of the company. Then, through training and support processes, they make sure that their skills are developed and that their talent blossoms even more. The approach is done methodically so that the process of development is always done with the aim of better cooperation and efficiency of the employee regarding the goals of the company.
Companies that have a dedicated workforce can more easily unlock the talent and efficiency of their teams. Owners, executives and managers shouldn’t act individually, but as team members of the company, being an inspiration for each other member. Their talent works to empower and support employees who start acting accordingly to cope with these positive role models.
Unlike older approaches, modern companies want to retain their talents. When there has been effort to find the suitable person and time and money have been invested to develop their skills to unlock loyalty and efficiency, it makes sense for a company to fight to maintain its workforce. This strengthens the internal relations between employees and management and further strengthens team ties.
Tactics for activating talent
- Possibility of internal development
Talented and loyal employees want to know that there are opportunities for development within the company. They will not prefer to leave their position for a better paid position in another company if they are sure that they have great potential and they can improve their position in the company they work for and trust.
- Financial incentives
The majority of employees are mobilized more directly through strategically selected financial incentives. Whether it is employee shares, bonuses or increases, it is certain that companies which provide financial security will be able to retain talented employees more easily.
- Training opportunities
Many companies choose to invest financially in the ongoing development of their employees' technical knowledge and skills through training programs, coaching sessions, mentoring programs and other upskilling and reskilling opportunities. Employees recognise and appreciate that and become more flexible and efficient in a variety of positions.
- Reward culture
Perhaps the simplest thing that is pretty often overlooked is a simple... "bravo". A corporate culture that encourages and rewards creativity, imagination and collaboration, a culture that celebrates employee achievement, is sure to lead to a more cohesive workforce and success.
- Successful communication
Talent is not enough to achieve goals. Managers and team leaders need to demonstrate the right leadership skills to make their work goals clear. The direct and one-on-one communication with the talented employees helps to increase the cohesion and the feeling that valuable cooperation and teamwork is a priority for all individuals within the company.
In the new working field that has been shaped by the pandemic, it is essential that companies ensure that their talents continue to be committed to their goals and outcomes, especially within the framework of remote work. A historic moment is always crucial for talent management and reshapes the potential within teams.
Finally, every business must primarily invest in the development and ongoing training of their HR department staff, so that knowledge and talent management strategies of the 21st century are secured.