Talent planning for Founders - Talent Heroes
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Talent planning for Founders

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Basic talent planning for Founders

 

The key to progress and growth is to plan. Most people wouldn’t argue with that statement, however the reality of small business life is that most organisations react when it comes to talent, rather than planning. Failing to plan your talent requirements will leave you open to lags in growth and delays in future profitability. A talent planning strategy doesn’t need to be considered a dark art, there are some key fundamentals that can make it easy to deliver on and an agile process of constant iteration.

Are you prepared for who might you lose? A loss could be devastating, unless there is capacity to spread the load

What are the basics for talent planning?

Consider your business thoroughly and map your existing team against what your future might look like. Do these things:

Review the present

  • Do I have the skills here to get the jobs that need doing done right now? If not what is urgent and how can you best fill your need? With a contractor (if its short term), or a permanent member of staff (if its a long term need). Doing the work across the team could be a false economy.
  • Are you prepared for who might you lose? A loss could be devastating, unless there is capacity to spread the load, or you’re ready to find a replacement and are prepared for the time that will take.
  • Who would you replace staff if a better version came along? Sounds harsh, but the best team makes the best business. Assign ‘down and out’, ‘pedestrian’, ‘superstar status’ to every member of staff. Your hiring planning can incorporate looking for ‘better versions’.

 

Consider the future

Map your business goals for the next 12 months against the skills you’re going to need.

  • Carry out a talent audit. Who will move into the new roles that will be created by your growth, product and services launches? Some of your progress will be led by those already with you, but when they operate in that space, who will fill their boots in terms of their current role and when might that happen?
  • What skills areas are weakest in your business?  You must plan to bolster these and plan when the need is likely to land most urgently. Highlighting these now will allow you to pipeline talent for the future, saving you from reacting and making a bad hire.
  • What are the best options for your needs? Freelancers, contractors or permanent staff? The lead time for each of these is different and should be considered in your planning.

 

Food for thought

A talent planning strategy can be as complex, or as simple as you want it to be, but more complex versions are vital as your business progresses and matures. Retention rates determine the success of companies and their reputations. Are you considering retention as much as you are attraction?

Talent Heroes is a people business. We’re contracted by clients to work in house, attracting and hiring an unlimited number of staff, for an all inclusive monthly fee.

 

Talent Heroes hires, so you don’t have to.

Talent Heros
ollie@lindonwilliams.com