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Talent Management Tips for your Startup

 

Related: Top Strategies to Attract Talent & Grow Your Startup

 

A businesswoman in an office holding a paper

 

In a startup, a team is usually in charge of human resources activities, meaning they are responsible for recruiting and managing employees. Talent management should make employees feel empowered and inspired to improve their performance, in turn contributing to the achievement of the organisations' goals and objectives. 

 

The objective of talent management strategies should be to attract the best tech people, train them, motivate them to enhance their skills and help the company expand. Investing in your staff will contribute to the growth and success of your startup.

 

Talent Management Practices in Startups

These are effective practices for your startup's employees to work efficiently and contribute to the company's growth in the short, medium, and long term. These practices are useful for startups interested in getting the best out of their employees.

 

Have a Good Organisational Culture 

Culture contributes to strategic growth, so it is important to invest in it. The culture of a company embodies its beliefs and values. An organisation's success is dependent on showing potential employees that the culture of the organisation is flexible, transparent, adaptive, and fast-paced.

 

Organisational culture is the foundation for a company’s hiring process. It sets the tone for how new employees are expected to act and how they will fit in with the rest of the team. Maintaining the culture of the startup is critical to prevent employees from leaving. 

 

Track Team Performance 

Use performance indicators such as key performance indicators (KPIs) to keep track of employees' performance and their efforts to meet the startup's objectives. KPIs will help you identify weaknesses and problems to establish measures to address them. These indicators are a very useful tool in the management of a startup for keeping continuous track of how goals are achieved within a specific time frame.

 

Tracking team performance helps your organisation keep track of how well employees are performing in their role. It also helps employers identify which team members might need additional training if they are struggling to meet expectations.

 

Recognise High-performing Teams

The impact and credibility of a startup are linked to the work of high-performing teams. Keeping employees motivated and happy is a good way to make them want to work harder and better. Recognition has a positive impact on the performance of the workforce.

 

Recognising the good work of a startup's employees is about giving them an appropriate reward for their good work and performance. Offering employees options for advancement, such as TED Talks and coding bootcamps, is one way to keep them dedicated and loyal to the firm.

 

Startups rely on their employees just as much as their employees rely on the organisation. Due to a startup's limited resources, they cannot afford to constantly hire or lose personnel, which is why it is best to recognise and appreciate employees as much as possible. 

 

To recognise high-performing teams, begin by evaluating team members' productivity and results. Create a list of measurable goals for your team members and track their progress over time to accomplish this. This will allow you to identify high-performing team members and determine which ones should be recognised, or even awarded.

 

Provide Constant Feedback

Since the Covid19 pandemic, remote work has had to be implemented in most companies, and managing this new way of work is important for startups to survive. This is why providing constant feedback to employees is highly important.

 

According to HubSpot, 69 percent of workers have reported that they would put in the additional effort if they believed that their efforts were acknowledged. Employees who receive either very little or no feedback from their managers have a greater propensity to become disengaged from their work.

 

Providing positive or constructive feedback to your team members can be a great way to show them that you care, and it also shows you want them to grow and improve in their roles. You can set up regular feedback sessions with your team members or talk to them whenever you notice something they are doing particularly well or something you want to see more of.

 

Career Development

Having career development plans for your employees usually provides good results. Career development is an essential component of any successful talent management strategy. It provides employees with the guidance and support they need to develop their skills and knowledge and helps the company by improving retention.

 

According to Linkedin, 94 percent of employees would stay with a company for a longer period of time if it invested in their career development. There are schools like Springboard, General Assembly, App Academy, Thinkful, Flatiron School, and Coding Dojo that are designed to teach fast-paced programs in various areas of technology, where your employees can learn key skills to improve their job performance and take on new challenges.


This article was contributed by professionals at Career Karma. Career Karma is the easiest way to find a job training program online. They help over 1 million workers navigate their careers every month through advice and coaching.


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