What’s one reason talent segmentation is so important in workforce planning? We asked HR managers, CEOs and business leaders about this so we could get their best insights. From improving retention rates to meeting the needs of specific profit models, here’s six reasons talent segmentation in critical.
Improves Retention Rates
Improving retention rates is one of the most important benefits of talent segmentation. By understanding which employees are likely to leave, organizations can take steps to improve engagement and keep top talent in-house. Additionally, by understanding the different types of talent within the organization, companies can more effectively match employees to roles that are a good fit. This increases the chances that employees will be satisfied with their position and less likely to leave. As a result, talent segmentation is a critical tool for any organization that wants to improve its retention rates.
Administrative Manager, Financer
Helps Structure Your Organization by Department
The job market has dozens of talent pools available for business, but not every group will relate to your company’s needs. Talent segmentation allows you to plan out the departments and roles needed for your workforce based on the skills and interests present in current talent pools. This, in turn, will simplify your recruiting efforts. Talent segmentations make candidate targeting less time-consuming because you’ll already have personas created for your ideal applicants. Use these as a guide for finding high performers on the market in far less time.
CEO, Restaurant Clicks
Brings Clarity to Your Talent Strategy and Sustainability
Without talent segmentation, there’s no realistic manner to understanding the true supply and demand requirements of critical talent, and in turn to have any confidence in determined bench strength. Segmentation allows us to target and focus not only our resources, but also tailor and personalize our approach toward specific talent segments to increase the relevance of our employer brand and experience.
HR & OD Thought Leadership, Academy to Innovate HR
Allows for Targeted Training and Development
Talent segmentation is a practice that allows businesses to provide targeted training and development opportunities for their employees. It allows companies to better understand the skills of their workforce, and how they can best support those employees while they’re in the job. If you have employees who are great at some certain tasks but not others, you may find yourself without the right people for certain tasks when it comes time for them to move up in their careers.
Owner & Director, FilmFolk
Assess Your Strengths and Plan Accordingly
Talent segmentation groups people by several things, including interests and skills, so you as a leader can see where your strengths lie and how they can all fit together. You can take a group that’s identified as innovators and set a long-term plan to use that skill. Another group may be more effective, so you can create plans where all new projects are run through to see if they’ll work before anything is drafted. This method helps you as a leader know who to go to when a special skill or specific knowledge is needed. The military has used this for centuries and it works well.
Founding Partner, 4Voice
Meet the Requirements of Specific Profit Models
Talent segmentation is a strategic means of differentiating talent practices to align the requirement of the organization with the other profit models by identifying the talent and applying segments to it. Talent segmentation is necessary for the workplace so that the team will use the resources from the profit models, establish clarity and make wiser decisions.
I believe that talent management and labor depend on the ability to build the workforce. Moreover, adjusting the recruiting strategies to the talent segmentation will work for you in a winning scenario. On one hand, it ensures that recruiters are allocating the right man for the right job at the right time, on the other, it ensures that candidates will receive a brand that is engaging and relevant for them.