Strategic talent management sounds like a new concept to you, don’t you think? Why would someone devise strategic plans for the company or for themselves? Isn’t this too simplistic of a concept? Well, it isn’t really. But if you dig deeper, you’ll find out that strategy and strategic thinking are not at all new. People have been using these concepts and ideas since the beginning of time, and before you read on, I want to give you some historical and cultural context as well.
In the ancient times, strategic thinking was used by the military leaders of various empires as a way to win the day and keep alive. During the American revolution, General George Washington led his troops by using a strategic plan that involved using the terrain to surround the enemy and to confuse their formations. After the war was over, he set up an adage that whenever you see an opportunity, act without delay!
In today’s corporate world, many companies have been employing strategic plans in order to compete in today’s ever-changing marketplace. How do they accomplish this? By creating a series of steps or “processes” that enable them to develop new ideas, technologies, and products. However, there is another aspect of the strategic planning process that has been overlooked and that is…what is the ROI (Return On Investment)? By answering the question, “How long will it take to develop and use the new strategic plan?
Most companies do not provide any information about the ROI because if they don’t, then how can you know if strategic talent management training is worth your time and money? This is why some people would rather invest in some old-fashioned books and courses than investing on a more advanced strategic planning process. However, as you probably know by now, investing in such advanced courses can cost a lot of money, which is why you should get your hands on a good strategy that will not only take your company to the next level, but it will also take care of all the tedious work for you and free up your time for other things. So how does one formulate a strategic plan that will yield a powerful, yet low-risk, return on investment?
The first thing you need to understand is that strategic plans do not come in a one-size-fits-all form. They are devised as per the objectives of the organization and as such, take into consideration the overall business culture and the type of people who are employed within the company. Therefore, your strategic plan must be flexible enough to take into account the existing circumstances of the organization. Likewise, these plans need to be applicable enough so that the desired goals and objectives can be achieved without having to change the existing policies or structures. This is what will make your strategic plan truly effective and truly worth your time and money.
Furthermore, strategic talent management also takes into consideration the current situation and circumstances of the employee himself. This means that instead of just looking at the objective and current state of affairs, a strategic talent management plan will offer solutions to the problems faced by the manager and his/her employees. This means that the employees are fully aware of what they are being told to do and why.
Finally, it is important for a strategic talent management plan to be comprehensive. It should take into account every aspect of an organization and its people, thus giving the manager the freedom to think strategically and act prudently. However, in order to fully reap the benefits of such a comprehensive strategic plan, a strategic plan needs to be in place for a very long time, or else it will become ineffective. In other words, if you want to take my exam for me, take it seriously!