With a large pool of talent spread around the world, the biggest challenge entrepreneurs have is finding the right talent and with a new crop of employees getting ready to enter the workforce, Generation Z, also known as iGeneration would be a force to be reckoned with.
The talent life cycle is a simple way of managing the different stages involved with finding and keeping talent.
Not just anyone will do! There is amazing talent on the market, don't sell yourself short, go after it -you have much to offer. Take some time to define the role and the profile of the person you require to fill that role.
Get them on board or they will go over board. Ensure they are set up to deliver against your expectations and that they feel part of your organization.
Develop.Whether you have a set performance management system or not, it is imperative that you have training, development and performance improvement plans. Expect to learn something from your new hire, that's why you hired them. Be open to accepting them.
Commit to management practices. To keep your people motivated and productive, you have to be on toes. Clearly define targets and time frames.
It is expensive to lose and re-hire talent.
Retention can often be addressed by ensuring challenging and rewarding work in an environment they respect and enjoy.
When exiting employees, remember labor law guidelines, performance management process and succession planning.