There’s no denying the world is always changing, especially when it comes to the world of talent management. The industry has been twisting and turning for decades now, and this the rise of social media, jobs sites like Indeed and LinkedIn, and the overall approach people take when hiring talent, where does that leave the industry now?
Of course, when you accompany this with the fact that the world’s talent pool is only getting more substantial, and the entertainment industry has changed dramatically over the last few years, what can we expect in the coming years? In today’s guide, we’re going to help you find out.
The Internet Plays a Huge Part in Everything
The internet is everything nowadays, and the talent management industry is no exception. Whether you’re the talent or an agent, most of your portfolio and experience is going to need to be showcased online. You’ll need to have social media pages set up to advertise and market what you’re offering, and it’s so easy to see what everyone else is up too.
“There’s such a huge rise in competition as well, especially since anyone can grow a massive following and become talent off their own back, which means that optimising your profiles, enhancing your online presence, and managing your reputation has never been more important,” says Bill Adams, a manager at Paper Fellows and Essayroo.
Retention is Everything
When you look into a company, one of the key factors that many businesses overlook is the fact that everybody in your business is going to quit and leave one day. That’s just a fact of life. The problems arise when people are quitting and leaving unexpected and leaving you stressed out, overwhelmed, and unable to comprehend what’s going on.
For talent management managers, this means you need to be proactive in making sure that you’re actively taking steps to keep talent within your company. This starts at the hiring process by making sure that HR managers are actually hiring people that are right for the job, and they’re interested in staying for however long you’re planning to have them there for.
If you have no idea how long you want talent to stay, and you’re just hiring because you think they’re going to be with you for the rest of their lives, then you need to sit down and think about how you’re approaching this subject matter because that’s not how it works.
“Instead of feeling betrayed and let down when someone leaves, you need to be aware, as we said above, that competition is heavy these days, and talent will always be looking for the best opportunity for them. Sure, they may have got their foot in the door with you, but that doesn’t mean they’re going to stick around unless you make them want to stay,” shares Taylor Harper, a tech blogger at State Of Writing and OX Essays.
This means creating a culture that keeps talent wanting to stay with your business and creating a recruitment process that will follow and focus on selecting and hiring the best talent that’s suitable for your business and ensuring your business is suitable for them.
Filling in Skill Shortages
Skill shortages are very common these days since the rate of people training is slowing down in certain areas, which means there’s even more competition when it comes to hiring existing talent to fulfil certain roles, and then catching the few people who are training to get them into your business before your competition can.
This then couples with the point above with being able to hire the right people and keep them in the right positions as much as you can.
Improved Financial Evaluation
With all the points combined, of course, there’s going to be the financial aspect you need to be thinking about. How much is the cost to get talent into your business and then how much return are you going to get on your investment?
You need to make sure you’re optimising your financial planning processes as much as possible to ensure you’re as accurate as possible, all to make sure you don’t end up in financial difficulties.
Katherine Rundell is a teacher and writer at Academic Writing Services and UK Writings. She is fluent in French, Italian and Spanish and spent six years living in Madrid immersed in the Spanish language to become fluent. She is also a proofreader at Buy Essay.
