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The future of talent management

Aug 25, 2021
By: Tammy T. Jelinek
Financial Institutions

Have you heard the rumor that there are fewer people available for future job opportunities?

The rumors are true. We are experiencing a talent shortage. In addition, there are more job opportunities open to your current talent.

Peter Drucker’s quote, “Accept the fact that we have to treat almost everybody as a volunteer” is our current reality. Keeping current talent engaged is urgent.

When someone states, “I do not have time to manage (lead, teach, build-up, give feedback to, etc.) my team,” it’s time to remember time is relevant. How much time do they have instead to advertise for, interview, hire and train the next person? All while managing the frustrations and strain of being short-staffed with those left behind.

Here are five tips to help engage current talent:

1. Say thank you — a lot

Schedule time — weekly — to remind yourself to say thank you. Send a card, send formal feedback, call them, walk over to them … whatever the method you want to use. Better yet, chose a method in which they prefer to receive feedback. If you do not know that answer, ask them. And, if you need to have a space to jot down notes throughout the week of who you need to thank, then do it.

Bonus: When telling someone thank you, be specific about what the person did that you want them to do again (i.e., a positive behavior or action). And share one to two ways it benefited a customer, the company, you, their team, etc.

2. Ask your talent what they want to learn more about

Promotion does not always involve a career ladder progression. Listening and sharing information, connecting to learning opportunities, allowing team members to coach and mentor, connecting to project work, etc. can go far when engaging talent.

3. Ask what we can stop doing

If it doesn’t contradict compliance, maybe there are some “we have always done it that way” processes that can be eliminated.

4. Ask what we can change

Those working your frontline often have the best suggestions on small changes that could make big impact.

5. Ask what we can start doing.

We may not be able to implement all the ideas; however, being asked, being valued and being heard is a great engagement tool.

As leaders, please share what you are currently doing to keep your talent engaged, whether they are with you for a year, or a career. Inquiring minds want to know.

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Tammy T. Jelinek, MBA
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