What is a Talent Management Plan?
A talent management plan is a strategy used to attract, develop, and retain talented employees in an organization. This plan outlines the steps and processes necessary to ensure that the organization is able to find and hire the best employees for the job, provide them with the necessary training and development to excel in their roles, and retain them for the long-term success of the organization. The plan should include objectives, key performance indicators (KPIs), and corresponding actions (projects) that will help the organization accomplish its goals.
What's included in this Talent Management Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Talent Management Plan template for?
This talent management plan template is designed to help HR and people teams in organizations of all sizes and industries create a strategic plan to retain talent. The template helps define focus areas, set objectives, measurable targets (KPIs), and implement related projects to track progress and achieve faster results.
1. Define clear examples of your focus areas
Focus areas are broad categories that define the overall goals and objectives of the talent management plan. Examples of focus areas could include Recruiting, Retaining, Developing, and Rewarding Talent. For each focus area, the organization should outline specific objectives, action items, and key performance indicators (KPIs) that will help them accomplish their goals.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that the organization hopes to accomplish within each focus area. Examples of objectives could include increasing employee retention, improving employee engagement, enhancing employee development, and increasing employee satisfaction. For each objective, the organization should identify key performance indicators (KPIs), and corresponding action items that will help them achieve the objective.
3. Set measurable targets (KPIs) to tackle the objective
Key performance indicators (KPIs) are measurable targets that help organizations track progress towards their goals. Examples of KPIs could include increasing employee retention rate from X to Y, increasing employee engagement score from X to Y, and increasing employee learning hours from X to Y. The KPIs should be specific and measurable, with a clear initial and target value.
4. Implement related projects to achieve the KPIs
Projects (or action items) are specific activities that need to be completed in order to achieve the objectives and KPIs outlined in the plan. Examples of projects could include developing robust retention strategies, creating employee engagement programs, and designing employee reward programs. For each project, the organization should identify the resources and people needed to complete the project.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform is designed to help organizations track progress towards their goals and objectives. This platform allows users to create and track projects and KPIs, monitor progress, and identify areas of improvement, so organizations can ensure that their talent management plan is successful and that they are achieving faster results.