Talent management. When Susan McGalla explains what she does, people usually want to know more about what talent management involves. Although it seems like a term batted around in Hollywood, it’s not. She explains it as simply the links supporting a company’s organization. It’s a strategy used in Human Resources.
As chief merchandising officer and president of the American Eagle Outfitters brand, McGalla has spent years successfully one strategy. The talent management strategy that drives the certain events that individuals experience in a workplace setting.
For those individuals who want to understand more about talent management, McGalla has a list of myths to decode this Human Resources term:
It’s about Talent
No, it’s actually about a company’s commitment to recruit, develop and retain its most talented and superior employees in the job market.
Talent Management is the same thing as Human Capital Management
No, not quite. Human capital management, also called performance management, focuses on a manger’s role in the company. Talent management strategies give managers significant responsibilities and roles in recruiting talented employees.
Depending on the organization, the strategy involves using all of the top potential employees in the talent management system.
Talent Management doesn’t Track Employees
Yes, it tracks employees. At least the most effective talent management strategy does. You see, the organization shares information about its talented employees. The information typically includes things like an employee’s potential career path across the company. This helps the different departments in the company to identify the available talent it has when specific opportunities arise.
Now that some of the myths have been debunked, here is some information to understand the steps involved in talent management:
1. Attract Talent and Retain Talent
The first step in any talent management strategy is to attract and retain talent. Human Resource recruiters may have a difficult task when unemployment is low. However, it’s their jobs to select the most talented individuals. Recruiting and retaining talent usually depends on competitive compensation packages that are based on the industry standards. The package should include traditional benefits like vacation pay and newer benefits like telecommuting options.
2. Integrate Employees
After the recruited employees are hired and retained, the next step is integrating them into the company in a way that is most beneficial to the company. This may vary from creating some non-traditional positions or one job shared among many employees.
It also means providing educational opportunities for the employees. Educational opportunities include:
• Formalized courses
• Workshops
• Practical work assessments
• Scheduled education sessions
Talent management, when used effectively, can provide an organization with a strong group of employees ready to with the company.
About Susan P. McGalla
McGalla began her career at American Eagle Outfitters in 1994. She also worked for the former Joseph Horne Co. department store. Her current title allows her to focus on designing, merchandising and marketing to American teenagers. She grew up in a household with two older brothers and wasn’t cut any slack because she was a girl. This helped her in her chosen profession.