Company success links directly to what talent management, employee engagement and organizational culture have in common. The causal link among the three elements is powerful. It’s much like a rowing crew’s connection among rowers, oars, and scull.
Previously defined, talent management is an organization’s commitment to recruit, retain, and develop the most talented and superior employees available.
That commitment is enhanced by effective employee engagement, a buzz-phrase for the past several years. Employee engagement is the individual’s investment of her/his time, energy, skills, knowledge, and creativity in the efforts and directions set by the organization.
Organizational culture contributes to a business’s employee engagement. We define organizational culture as the values and behaviors that contribute to the unique social and psychological environment of an organization.
Your company’s culture offers critical engagement factors. These factors impact the three talent management components: recruitment, retention and development.
Talent Management: Recruitment
Recruitment currently targets those in Generation Y, the Millennial generation. Recruitment is a talent candidate’s first contact with your company. Recruitment should positively engage that candidate from the get-go. Organizational culture has a say in how you recruit, and therefore in how (well) you engage. Consider this about Millennials:
- They seek work that is social. They are technologically savvy. They want jobs that motivate by time off and job satisfaction, rather than just by compensation.
- They appreciate recruitment via use of social media. They expect personalized attention. They anticipate internet-speed responsiveness.
How does your company’s recruitment process and procedure measure up?
Talent Management: Retention
Retention remains the money-saver to talent management. It is costly to hire, onboard, and bring a new hire up to speed. Strong employee engagement delivers stronger employee retention.
The SilkRoad Talent Talk Report 2014 states: “…in an unpredictable financial climate, companies need loyal, productive, and engaged employees more than ever. Employee engagement emerged as the most pressing concern…” Indeed, 53% of the 3,700 survey respondents indicated their company lacked an attractive culture to engage employees.
A company culture that offers, encourages, and maintains engagement by employees impacts every individual. Baby Boomers savor a workplace in which they can engage their energies and values. Gen Y workers relish a company that recognizes their independent skills. Generations in between approve of the chance to engage for their own reasons.
What salient employee engagement factors does your business culture provide?
Talent Management: Development
Development is significant action played by talent management. Developing employees from Day 1 throughout their time of service demonstrates company commitment. That commitment, perhaps greater than any other offering, stimulates employee engagement. The commitment to such development can be a cornerstone value of a company’s culture.
Employees have always requested, accepted and appreciated training, education, mentoring and development. They have asked welcomed opportunities to engage in personal and professional improvement. Consider the variety of ways an organization may satisfy that engagement:
- Training that is job-specific or professionally generic.
- Coaching and/or mentoring.
- Formal education through university partnerships, tuition reimbursement, and online credits.
- Professional associations and conferences.
Does your company offer developmental opportunities in each of these categories?
The connection is clear. Organizational culture can generate employee engagement. Employee engagement can support the three legs of talent management. They have in common a shared contribution to your business’s successful competition.
About the Author: Tim Wright is a professional speaker/coach/facilitator with expertise in employee engagement and culture improvement.