Talent Management Strategy: The Great HR Challenge

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Talent is the word on everyone's lips — and rightly so. Whether it's a matter of attracting, retaining, or developing skills internally, it is talent that drives the digital transformation of companies. Not to mention the Millennials, the newest arrivals on the job market, who are already fluent in digital ways of working. The onus is therefore on companies to offer an employee experience that lives up to their expectations. And who better to champion this agenda? HR, of course. A closer look at a highly strategic profession.

Attracting and retaining talent

To successfully drive its transformation, a company needs to surround itself with the best profiles — those we now call "talent." According to Joseph Stiglitz, Nobel Laureate in Economics, human capital can represent up to 75% of an organization's total capital. The quality of employees is paramount. Yet in an increasingly international and competitive landscape, finding the rare gem is a genuine challenge for HR. These highly sought-after profiles are untouched by economic downturns. On the contrary, they give companies plenty to think about. "The war for talent is only just beginning, and executive leadership is not prepared for it," noted Gilles Babinet, France's Digital Champion to the European Union, in an interview with Les Échos.

It is therefore up to companies to project the right image — and this is where HR comes in, by working on their "employer brand." Their goal? To attract talent and spark their interest in the company. Their means? Digital, naturally: a presence on social networks such as LinkedIn, the use of apps, and personality-based recruitment are all approaches that resonate with Generations Y and Z — the Millennials. But attracting profiles is only the beginning; they also need to be retained. Let us simply note that a failed hire is costly and that high turnover is no one's preferred outcome.

Talent in search of an employee experience

Employees want more than a paycheck — they want an experience, both as customers and as members of an organization. Salary alone is no longer enough; working conditions and well-being at work have taken center stage. Across all generations, the same talent that HR teams are chasing is calling for purpose, well-being, and quality of work life (QWL) — as evidenced by numerous studies* over recent years, as well as rankings such as "HappyAtWork" or "Top Employers." As a result, companies must offer optimal working conditions built around a culture of belonging — and communicate that openly. Here again, HR's role is to project the right image through a polished employer brand. The growing interest in platforms such as Welcome to the Jungle illustrates this: companies give their employees a voice, who in turn share their impressions of the working environment, missions, and day-to-day life. Companies also publish photo and video features offering a 360° view of a workplace where people genuinely want to work.

And beyond image and communication, the employee experience also encompasses all the tools offered internally — such as collaborative platforms that simplify processes, streamline interdepartmental communication, facilitate information flow, and foster horizontal and cross-functional management. Employees want to collaborate, as cabinet Lecko recently explained, because that is where talent truly flourishes — in an environment that encourages innovation and creativity. And this is all the more relevant in the era of remote work and teams spread across the country or a city. How can companies ensure employees feel engaged while remaining high-performing? HR teams play a crucial role, encouraging the organization — and its leaders in particular — to revisit how they operate and collaborate. HR can also work with line managers to build more trust and open dialogue, or to facilitate the adoption of digital tools. The approach? Being on the ground.

Toward a talent management strategy

Finally, retaining talent also means developing skills from within. HR can of course offer upskilling through training — a genuine driver of attraction, engagement, and retention. "Young people are increasingly educated and curious; they expect the company to help them grow," noted Isabelle Bernard, also in Les Échos. Digital training, in particular, meets a wide range of employee needs across all generations. Take reverse mentoring, for example: the concept of having younger employees from newer generations train their more senior, less digitally-native colleagues — including, specifically, company leaders.

All of these examples converge toward what is known as a talent management policy — a set of deliberate actions centered on talent and competencies. Talent management strategies are far from widespread. Barely one in two companies is said to genuinely implement one, even though 83% acknowledge the importance of such a strategy.** Yet this is precisely the core mission of HR: to devote themselves fully to people. Some have already reached a new stage, freeing themselves from the administrative burden of payroll management. Others work alongside IT using an HRIS — not only to optimize processes, but also to gather data that helps identify the skills the company needs and determine whether to hire or train. The 2017 Talent Management Barometer, conducted by the ANDRH, Féfaur and Cornerstone, reflected the growing use of such software in HR departments: nearly 62% of companies now rely on software to manage their talent, and 33% have deployed an HRIS. And for employees, digital tools are yet another advantage — offering simplicity, centralization of all their data, and greater transparency. Another effective way to keep them engaged.

Engaging employees is not just a buzzword in the age of transformation. To truly unlock talent within the organization, HR is breaking down silos — working hand in hand with communications (employer brand), managers, and IT. They sit at the crossroads of all departments, because what connects everything is the employee. It's the talent.

*According to the 2018 Remuneration Study by Michael Page, based on data collected from clients between 2016 and 2017, 95% of employees want high-quality relationships with their manager. 83% of them also want a better work-life balance.

**Kienbaum Talent Management Study 2018