Designing and then implementing an effective talent management strategy isn’t something you can do alone.
“It takes a village to raise a child.”
We really like this timeless saying because it reminds us that success, growth, and development are collective efforts. Just as we relied on the skills, wisdom, and support of others as children, businesses must adopt the same philosophy to nurture their workforce and achieve sustainable growth. In the case of talent management, it takes a team of specialized capabilities to bring a talent strategy to life.
The Challenge: Talent Management Gets Harder as Your Business Grows
As companies grow, managing people becomes more complicated. Processes that worked for a smaller team may no longer be enough. A successful talent management strategy requires expertise in many areas, such as:
- Using data to make smart decisions
- Staying compliant with laws, ethics and regulations
- Improving employee performance
- Developing strong leaders
- Managing change effectively.
But here’s the challenge: HR teams usually have small budgets. According to Gartner, HR departments only get about 1.47% of a company’s operating budget, which makes it hard to do everything on their own.
The Solution: Talent Management as a Service (TMaaS)
That’s why we developed Talent Management as a Service (TMaaS).
TMaaS is the village. It gives you access to the skills, tools, and technology you need to build a successful strategy—without stretching your internal teams too thin.
Instead of hiring or building everything from scratch, you can “borrow” these capabilities when you need them.
As with any journey, it’s always useful to have a map of what success looks like. The table below shows the practice areas (rows) and capabilities (columns) required to bring an effective talent management strategy to life.
Talent management capabilities needed for a successful talent strategy implementation
The Six Capabilities You Need for a Great Talent Management Strategy
To create an effective talent management strategy, you need six key capabilities. Here’s why they’re important and what happens if they’re missing:
1. Data-Driven Decisions
Data helps you make smart, informed choices. Without it, decisions are based on guesswork, which can lead to mistakes.
2. Compliance and Risk Management
Keeping up with laws and regulations protects your business. If this is ignored, it could lead to costly fines or legal trouble.
3. Performance Management
Helping employees improve their performance ensures your team is aligned with company goals. Without this, productivity suffers.
4. Leadership Development
Strong leaders inspire teams and guide change. If leadership skills are overlooked, your company may struggle to grow.
5. Employee Engagement and Retention
Engaged employees are happier and stay longer. Without engagement, turnover increases, costing you time and money.
6. Change Management
Helping people adapt to new processes and systems avoids confusion and disruption. Without it, change can cause chaos.
The image below describes each of the capabilities, why they are important and what happens if they are not there. As with most capabilities your options are to BUY, BORROW or BUILD.
Why Talent Management as a Service is a Smart Choice
Talent Management as a Service (TMaaS), is an all-in-one BORROW solution that provides on-demand capabilities and technology to bring your talent strategy to life.
Using TMaaS to manage your talent has many benefits for businesses:
- Align People with Business Goals
TMaaS helps connect your HR strategy to your business goals, making HR a key driver of growth. - Scalability
TMaaS grows with your company, so you always have the support you need. - Save Time for HR Teams
By handling time-consuming tasks, TMaaS lets HR focus on strategic, high-value work. - Better Decision-Making
TMaaS turns data into clear insights, helping leaders make smarter choices. - Quick Results
TMaaS solutions are easy to set up, so you can start seeing results fast.
Align your people and profit for growth
Our TMaaS solutions provide the tools and support you need to bring your talent management strategy to life.
