- Diversity in talent is crucial, but many organizations lack the capability to achieve this
- Employer branding could be a key step in amending this
- If the organization is more attractive to the candidate, talent management may be a simpler task
- Conceiving D&I principles is one thing, but putting them into practice is another
Globalization is not a new state of affairs, but the scenario we currently find ourselves in brings new waves of technological innovation. The fourth industrial revolution carries with it extraordinary technologies that bring agility, flexibility and new ways of building relationships. In this complex scenario generated by the COVID-19 pandemic, the challenge is building a strong talent management strategy to attract, recruit, and retain diverse professionals remotely.
In this scenario, global talent management (GTM) is a key principle within HRM strategy and in the business strategy itself. In the business plan, we establish the results and expected growth we aim to achieve for the organization. It is clear that to achieve results, organizations need people, but to achieve the best results with efficiency and innovation, they also need diverse talents.
The challenge of talent management
In the related literature, GTM appears as one of the key elements that allows the business to achieve its strategic goals. Notwithstanding, organizations are still failing in talent management, and the majority have not yet developed global practices. For 70% of CEOs globally, the difficulty in managing talent, and the lack of capabilities are critical problems that hinder business growth.
The reason for this challenge is that financial compensation alone is no longer enough to retain talent and create long-term commitment. Professionals are seeking much more than a successful career. They are looking for meaningful jobs in humanized workplaces, where they perceive equal treatment and opportunities, where they feel included in decision making. This generates a feeling of belonging, where employees they feel able to thrive and be creative.
The importance of employer branding
The way employees see the company could directly influence their performance and engagement, which could alter retention. Additionally, a company’s reputation in the market will positively or negatively affect its attractiveness to talent. In this scenario, employer branding is extremely important.
Employer branding is the company’s identity as perceived by its employees, customers, and stakeholders. The main point here is consistency: the internal and external image are equally important and should be the same.
Improving attractiveness to benefit talent management
To be more attractive to talent, organizations should align GTM strategy to diversity and inclusion (D&I) principles, avoiding any kind of unconscious bias – not only during the recruitment and hiring process, but also in all talent management processes.
D&I principles should be designed based on what the organization is aiming to achieve. However, in a general sense, these are possible first steps:
- Cultural change: We cannot change an organizational culture overnight. To embrace D&I, we need to start the discussion from the top, convincing the management team of the importance of investing. At the same time, we should be open to hearing all employees and learning from their experiences.
- Culture of openness and transparency: To reinforce equality and equity in the internal processes, where employees feel a fair treatment and recognize they have equal opportunities.
- Identify the initial priorities: Depending on the organization, there will be gaps in different areas. Therefore, establishing a plan to fill in these gaps and different KPIs to monitor progress is crucial.
- Create awareness: Work with all employees on awareness, bringing to the light the unconscious bias we all have. In this sense, as HR leaders, we will be able to influence and support the change of the working environment.
- Align HR processes to D&I principles: One big step is to adapt the recruitment process to avoid any kind of unconscious bias during the process. As an example, companies are adopting the “blind recruitment”, where the hiring manager receives the candidate’s curriculum with no detailed information about gender, age, nationality and background information.
Putting principles into practice
A strong organizational culture embraces D&I principles as an important pillar of the employer branding, which creates attractiveness, influences employee welfare, and helps to retain talent. In addition to this, culture supports team development, aligns messaging across the organization and guides decision-making.
Nevertheless, many authors list “retention of talents” as a core delivery of GTM. However, leadership has a key role in keeping a positive working environment, in promoting employee development and supporting them in their career progression. As you probably have heard many times, people do not leave companies – they leave poor management.
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In the current global business scenario, organizations are trying to reinvent themselves to succeed in the marketplace. To effectively manage talent, organizations have to adapt and align their processes to D&I principles, building a diverse team across countries and cultures and measuring its results. In addition, for attracting and hiring diverse profiles, it is necessary to make them feel included in the organization, which will directly affect talent retention.
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