Fundamental Principles That Ensure Return On Investment (ROI) In An Integrated Talent Management System
Most organizations need to utilize the potential of their employees fully. Even worse, many lose or ignore their employees. Therefore Many leaders need more vision, will, and discipline to properly invest in building the systems to deliver the talent required to execute their current strategy. And address future demands as it evolves. As a result, the following question must be asked: “What is the role played by integrated talent management in helping organizations to benefit from their human assets?”. Ultimately, organizations succeed or fail based on the strength of their employees. Also their attraction to talent and the effectiveness with which they build and use the competencies of their employees is one of the few sustainable competitive advantages that organizations can count on. Note that the principles of the integrated talent management system and effective adherence to them guarantee a high return on investment.
The results of several studies have shown that integrated talent management:
- It enhances the productivity of the best-performing employees
- Speeds up event time for new managers
- Improve driving ability
- Reduces the effect of adverse manager complications
- Increases functional suitability
- Ensures a high return on investment in an integrated talent management system
Ultimately, ensuring a high return on investments in an integrated talent management system requires adherence to the following principles:
1. Enriching talent investments and options
Performance management systems, 360-degree feedback systems, HR analytics, and human capital measurement systems are only as valuable as informed decisions. Knowing that many organizations are engaged in the activity of data collection. But this is only a means to an end. While the real value comes from comparative insights that are generated not only to help improve individual performance. But when taken together and viewed holistically, they help inform meaningful and targeted talent investments and choices.
2. Applying and reinforcing standards in decision-making
Organizations that rely a data-driven approach to talent management sometimes reduce impact by not aligning their use of assessment into an overall process and set of tools. This is because their use of data could be more consistent and applied more consistently. Knowing that better and more informed decision-making requires that the same standard is applied and reinforced at all key decision points (selection, performance management, development, reward, and advancement). Also, decisions should be part of a group of integrated operations and only a few separate and disconnected ones.
3. Linking behavior and performance standards to the organization’s strategy
The behavior and performance standards you embed in your integrated talent management process must be linked to high performance and achieving strategic objectives. It must be distinguished and defined by its ability to achieve organizational results. It must also align with and support the organization’s operating philosophy.
4. Enhancing employees’ sense of the ability to expand their competencies
Employees must be able to see themselves in the organization’s standards of behavior and performance. Knowing they need to see that they currently possess many of the competencies required for success. And feel the ability to expand their capabilities to acquire new competencies.
5. Enhance consistency and transparency
To build employee confidence and ensure the effective functioning of an organization’s talent system, consistency, and transparency must be fostered about the standards used and to whom and how they are applied. Knowing that clear standards applied faithfully and consistently are potent drivers of a healthy culture will go a long way to ensuring that an organization attracts and retains the talent it needs.
Adopting principles rather than best practices is more effective in challenging current thinking. Furthermore, best practices are only “best” in the context for which they are designed. Thus, organizations need to adapt talent management practices to their strategy and circumstances and closely align them with their leadership and talent philosophy while at the same time finding ways to differentiate themselves from competitors.
