How Do Business Leaders identify Talent?

Identifying the right talent for promotion or hiring is extremely hard – and crucial for the success of an organization. There is no one way to identify and foster the best talent. Business leaders have, however, boiled down some of the most effective ways of doing so. Here is a brief guide to some popular methods. 

Profiling 

Business leaders often use profiling methods such as the nine-box grid to identify talent. There are several extremely popular profiling methods – all designed to simplify the quantification of employee or candidate traits and skills. The nine box grid method – initially designed by General Electric to help with strategic spending decisions – is widely made use of in HR settings. To accurately profile a person, business leaders need to collect both qualitative and quantitative data. 

Looking Internally

Identifying talent from within an organization or network is far cheaper – and often far more effective – than searching for outside candidates. Far more data is available regarding company employees in comparison to outsiders. Hiring from the inside also allows for the effective fostering of a stable work environment. Internal promotions reduce the need for onboarding and education and help to cultivate an aspirational atmosphere within a place of work. 

Using Data 

Talent identification and retainment is increasingly data-driven. Novel approaches to finding talent rely upon novel uses of technology. Data can come in many forms. When looking at how an existing employee is performing – and how viable they would be as a senior figure – some analysts recommend the collection of data about the potential candidate’s informal digital networks. If a person is at the center of a useful communicative network that spans multiple departments, they may have good leadership qualities. This has been hailed as a new ‘transparency in human dynamics’ – a rather overwrought phrase signifying the way in which talent management can make use of networking data. 

There are also simpler kinds of quantitative data that are available to people looking to identify talent. Talent managers and other business leaders can analyze data that shines a light on productivity, past promotions, and a whole host of other things that can and should influence potential hires or promotions. 

Identifying Positive Traits 

Before actively seeking out new candidates for a role, business leaders need to figure out exactly what the ideal traits of a new employee will look like. This applies to businesses looking to recruit internally as well as externally. There are several broad candidate traits that HR teams will whittle down into a small list of ideal or required features of a new candidate. Integrity, problem-solving ability, team leadership qualities, and adaptability are all broad traits employers will often look for. Business leaders do not look for the same broad traits when trying to fill every role.

Instead, they try to match up ideal traits with the talent requirements of the role. Using this method, leaders attempt to find employees that are not only skilled but that will thrive in their role.