Your host, Sri Chellappa, talks with Laura Begg. Laura is a senior-level HR talent leader and coach who discusses the importance of having a talent philosophy and strategy in organizations.
Talent strategy is the practical implementation of the talent philosophy. Laura explained that the strategy encompasses various aspects of talent management, such as hiring, onboarding, training, development, and compensation. The strategy should address gaps in workforce performance, behaviors, and communication, as well as prioritize specific talent needs based on the organization's business imperatives.
Laura outlined the steps to creating a talent strategy. First, she suggests defining the organization's core values and culture. Next, assessing the current state of talent management practices and identifying talent priorities. Then, establishing guiding principles that reflect the organization's values and priorities. Involving stakeholders, including executives, professionals, and key employees, is crucial for ensuring alignment with organizational goals.
Laura emphasized the importance of building a strong culture to attract and retain top talent. Leaders play a crucial role in promoting culture and engagement, and should be held accountable for being culture leads and creating innovation moments. A good onboarding process that focuses on engagement and helps new employees ramp up quickly is also significant.