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The 14 Components of an Agile Talent Management Strategy
Posted By Dr. John Sullivan On May 28, 2012 @ 5:06 am In Advice and How-Tos | 4 Comments
In business, it is becoming more apparent every day that a large-size company is less of an advantage than speed and agility. There are new stories every month about how smaller firms like Facebook, Zynga, Instagram, and Zappos dominate over larger firms in their same space.
The same shift in critical success factors toward speed and agility is also occurring in the areas of talent management and recruiting.
The once-dominant larger and well-known firms are having difficulty competing because they are not simply not agile enough to continually shift and redirect their talent management approach. I have just returned from the always-excellent ATC conference in Australia where the entire conference was focused on agility in talent management. Although Australia is taking leadership in this area, the need for agility in talent management is almost universal around the world. The need for HR to move fast and to adapt is not new, but the speed that the talent marketplace now changes has made agility in talent management an absolute necessity.
Rather than the traditional “one-size-fits-all” HR strategy and budget that remain unchanged all year, an agile talent management approach requires shifting strategies and approaches rapidly and nimbly as often as each quarter to better meet the changing needs of the talent marketplace. Agility requires that when the environment changes, the talent management strategy must shift to handle those changes in the environment. For example, when the unemployment rate goes up significantly, both recruiting and retention become easier (because everyone have fewer job options), so fewer HR resources need to be applied in order to produce the same results.
Agility requires talent management to be scalable, which means talent management leaders must have a plan to handle both a higher and a lower volume of work and to shift their cost structure up or down in order to meet the “new normal.”
When you are developing an agile talent management strategy, monitor the environment so that you can respond to changes in it. The four major external environmental categories that you must monitor include:
In addition to monitoring the external environment, there are several other components that are required to build an agile strategy. They include:
In a world where there is continual rapid and difficult to predict change in the talent marketplace, workforce planning is much harder to do. But this increased difficulty is no reason to reduce your planning effort. Instead, it is more essential that agility planning be done well. So if it is important to understand that you can no longer develop a rigid “one-size for the entire company and the entire year” strategy and plan. Instead, a superior approach is to develop plans with agility, flexibility, and the capability of handling a wide range of upcoming talent management problems and opportunities built into them.
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