In today’s economy, it is very risky to hire a new member of staff from outside the company, as they may not fit the company culture, or have the right vision that the company needs. In his latest article for Buzzfeed, Tommy Wilson explains why talent management reviews are the best way to resolve this, empowering HR managers and directors to recruit from within rather than externally.
London, UK -- (SBWIRE) -- 02/17/2014 -- In his article, Tommy explains how holding regular talent management reviews is a great way of monitoring the progress of members of staff on their road to higher management. There are a number of ways this can be achieved, for example through regular one to one review meetings with staff members, setting company wide goals for all team members (not just sales staff!), and running team building exercises.
According to research by TIME magazine, 40 to 60% of external hires end unsuccessfully, while the failure rate of internal hires are currently at just 25% - meaning a much larger proportion of internal hires and promotions result in successful outcomes.
In a recent interview, Tommy had the following to say about talent management reviews:
“When it comes to recruitment, company directors want as little risk as possible. That is exactly why it is so tough to hire for management and director positions from outside of the company. There are numerous issues, for example the candidates just don’t ‘get’ the company culture, don’t have the right experience, aren’t multi-skilled, and more.”
“Talent management reviews allow Human Resources directors to build up an internal talent pool within their own firm rather than having to rely on external recruitment firms with their extortionate fees. A talent management review process is simply a method of identifying the leading lights within the lower ranks of the company. It is about finding people with the potential to rise to the upper echelons of the firm.”
“The upshot of this is, with an internal talent pool to recruit from and strategies to prepare staff for higher positions, HR managers and directors can be sure their new hires will be a good fit. Why settle for an hour long job interview when you can have a one year long one!”
About Tommy Wilson
Tommy Wilson is currently writing a new book on recruitment, entitled “Talent Management Reviews: Recruitment Of The Future”, which is designed as a complete recruitment manual for medium to large sized businesses, expanding on his talent management review method.
The book is expected to launch in mid June 2014 and will be available on all digital platforms including Kindle and iBooks, as well as a hardback version which will be launched soon after in July.