Does your company have a durable strategy in place for talent management? If not, it’s time to reconsider the importance you place on gaining and retaining top talent. A clearly defined talent management strategy can make a significant difference to your internal and external business operations, helping to improve both your staff performance and your company’s financial success.

A talent management strategy communicates the commitment of your organisation to its employees and prospective candidates, which helps you attract, hire and retain your best talent. In addition to this, it helps you make full use of your human capital and develop your staff effectively. Studies have also shown that a talent management program can improve the financial status of your business. Research conducted by McKinsey & Company also reported higher total returns to stakeholders for those who had an effective talent management strategy in place.

Therefore, when it comes to setting up an effective talent management process, it’s crucial to consider various organisational aspects outlined in the graphic below:

Take a look at the full guide to Talent Management from Sage to gain a comprehensive understanding of the process and benefits of talent management that could potentially help your business grow.

Source: Scott McLay , Sage