Shortage of skilled workers and executives are the critical challenges that companies have to face today. Most measures are particularly aimed at attracting and retaining skilled workers and academics. By expanding the perspective, the (applicant) market can be significantly expanded by attracting potential talents for key positions through highly attractive training early on and then developing them in a targeted manner.
The current situation - the starting point
For many, a worn-out term, yet: demographic change poses extensive challenges for HR managers. Currently, two generations are entering the job market: Generation Y and Generation Z. Both are characterized by an increased awareness of their own value in the working world. Coupled with the demand for self-realization, meaningfulness, and a pronounced social environment outside of work, it is becoming increasingly difficult for companies to attract potential talents for vacant positions and keep them in the long term. Positioning as an attractive employer - the so-called Employer Branding - becomes crucial in order to achieve competitive advantages in the long term.
Strategic challenge for companies
To establish an emotional bond between companies and employees nowadays, a culture throughout the entire organization is needed that is focused on individual needs and self-realization. Targeted support and appreciation motivate the younger generation to higher performance and strengthen their commitment to the company.
Strategic talent management is already on everyone's lips in personnel and executive development in this context. Although there is no universal definition, there is consensus that one of the core tasks is to identify, attract, develop, and retain talented employees.
Focus on people
Crucial for success is not to follow a standard approach according to the requirements of generations Y/Z, but to address individual needs and put people at the center. Training already offers the opportunity early on to prevent the widespread shortage of skilled workers and executives and high turnover of potential talents in the long term through strategic Junior Talent Management. Leadership plays a key role, as generations Y and Z want to be led in a very individual way. The so-called Servant Leadership perfectly appeals to these target groups: unconditional and uncompromising love and orientation towards the needs of the led. Lastly, the young generations rely on strong (employer) brands and identify with them. A good relationship with the supervisor is the crucial point for satisfaction: if the relationship no longer fits, representatives of generations Y and Z move on.
Action areas in Junior Talent Management
As in other areas, the success of Junior Talent Management depends significantly on strategy development. At this stage, it must already be clearly defined what goal and purpose are pursued with the implementation of Junior Talent Management. There is no one-size-fits-all recipe for this, as a talent management strategy - whether for "juniors" or "seniors" - must be integrated into the company's goals to be authentic and have its full impact.
Once the strategy is in place, it is necessary to analyze the company-specific needs:
- What are the key positions in the company?
- What competencies are required for these positions?
- Where are there gaps currently?
- Where can (further) bottlenecks be expected in the future?
These steps form the basis for further action. They indicate which talents are relevant for the company and help define what "talent" means for the company.
Based on the identified framework conditions, targeted and promising measures for individual Junior Talent Management can be developed.
Attracting talents
The positive effect of a strong employer brand already benefits the company when attracting new talents. This also has a positive impact on attractiveness as an employer. The younger generations are extremely well connected on numerous social media platforms: therefore, the first contact is already decisive. Based on the previous analysis, it is clear what talent is being sought. The following questions arise:
- Where can I find these talents?
- What makes our company interesting for these talents?
- What topics and content do I offer to talents?
Identifying talents
Ideally, the goal is to find the right candidate for the company from a selection of applicants. With the help of the competency requirements already established for the company, the identification of the required selection procedures now takes place. For example, a specially developed assessment center helps to assess the desired competencies in the applicants. At the same time, the right selection procedures provide insights into the potential and motivation of the applicants. While competencies provide information about the abilities of an applicant, potential and motivation indicate a future-oriented development possibility. A desirable and successful candidate will be one whose competencies, values, potential, and motivation largely match the company's requirements.
Retaining talents
The bonding process already begins during the identification and selection of talents. The first impression counts. Talents can be deterred early on and permanently by unclear communication, the impression of lack of interest, or lack of authenticity. In the worst case, such mistakes can have a negative impact on employer attractiveness due to the high networking of generations Y and Z and further complicate the future search for talents. An onboarding strategy helps to avoid such mistakes and facilitates the establishment of an emotional bond with the company.
Promoting and developing talents
Talent management in training is individually tailored to the competencies required by the company on the one hand, and the potential of the trainees and the further development of existing competencies on the other hand. The resulting appreciation and assistance in personal and professional development promote the emotional bond of trainees to the company. At the same time, the company has the opportunity to develop and retain implicit knowledge in the company. This way, the company prevents a long-term shortage of skilled workers and executives. Another positive effect is the enhancement of the company's image through transparent, external communication of the program's success.
The solution: a Talent Academy.
The solution is a dedicated talent forge that takes into account and covers the individual training needs and qualifications of all those involved in the training - and identifies potential weaknesses in the future. The explicit knowledge of young graduates, combined with the development of implicit knowledge from the company, are the key success factors for the competitiveness of companies.
Conclusion
A structured and strategic Junior Talent Management offers companies the opportunity to generate competitive advantages and counteract the shortage of skilled workers and executives already through training. At the same time, it helps to retain and develop implicit knowledge in the company.
A Checklist: When is Junior Talent Management relevant for your company?
- Do you value high-quality training?
- Are you willing to intensively deal with the topic of training?
- Do you have a comprehensive personnel development concept for promoting the soft skills of your apprentices?
- Does your corporate culture support values such as individuality, creativity, and open communication?
- Do you want to retain and develop your internal know-how in the company in the future?
- Do you know about the existing and missing competencies in your company?
- Can the necessary budget for Junior Talent Management be provided?
- Would Junior Talent Management be accepted by the entire company?
Ferihan Steiner Consulting's Contribution
Every beginning is difficult. As experts in strategic HR and organizational development, Ferihan Steiner Consulting is happy to help pave the way to an individual and efficient talent management.
Ferihan Steiner is an experienced consultant, trainer, and coach in strategic HR and organizational development. She is a leadership expert, keynote speaker, lecturer, and lecturer at the European University of Applied Sciences in Cologne. Her expertise includes Junior and Senior Talent Management, leadership and team development, company training, moderation and talks for HR, personnel, and training, as well as transformation and change projects.
Visit the profile of Top100 Trainer Ferihan Steiner: https://www.trainers-excellence.de/redner/ferihan-steiner.html
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