One of the biggest assets your organisation possesses is the people that ensure the smooth day to day operation and growth of the business.
Of course most, if not all, of your employees are very talented individuals and add a large amount of value to the firm.
But ask yourself this; are you as a manager nurturing this talent correctly?
Managing talent within your team is one of the most important skills you must have as not only a manager, but as a leader.
Is that employee turnover percentage high? If that is the case, then you are definitely mismanaging talent in your organisation.
Using the following three steps you can ensure that you are managing talent effectively. By constantly reviewing whether you are following these steps will ensure the retention of this talent and an increase in performance of the business:
Engage your employees
Empower members of staff by giving them responsibility with larger tasks that are of high importance to the business’ growth and success. By seeing that they have had a direct positive impact this will make the talent in your organisation thrive.
Effective delegation will not work every time, however by delegating these tasks the employee will be actively engaging with the company, and if they engage with the company’s success, it means they are definitely more likely to stay.
This only works though if the employee has a clear promotional path; without this there is no motivation for progression.
The vast majority of talented employees will always be looking to learn more and continually want to progress their talent.
As an organisation you should always want to help the employee progress. By showing an interest in the employee’s progression and growth they will want to reciprocate this by applying what they have learnt in the workplace.
Investing both time and money into talented employees will not be money and time wasted. In the short term mistakes will be made, but this is all part of the learning process: praise the good but guide them through the bad and coach these mistakes so they will not be made in the future.
Regular communication is an essential skill for a manager, but it is also key in effectively managing your talent.
Set regular meetings to discuss goals and targets. Do not micromanage while the employee tries to achieve these goals, let them get on with trying to achieve these goals and do not try to stifle initiative.
Get to know these talented employees: what makes them tick? What motivates them? Knowing what drives people means you can introduce fringe benefits that are appropriate. As previously mentioned, set a clear promotional path. It is important for the employee to see a direct correlation between their own progression and progression within the company.
Not nurturing talent within your organisation is a waste for the employee and the business: work together, invest time and money so the person and the business can grow together.