Recruitment and employee retention can be a challenge in this ever-changing world, but managing your talent ecosystem better may be the solution. A talent management system that is both diverse and adaptable is essential for any company. In her article for The Digitalist Magazine, Karie Willyerd discusses four ways in which a talent ecosystem can easily be managed.

What Is A Talent Ecosystem?

Talent management involves several factors. Companies need to attract and employ people who are the right fit for them. Companies also need to continue to develop these employees’ skills and find ways to keep them motivated. A talent ecosystem takes these principles to the next level.

The “ecosystem” is more adaptable to the changes that businesses face both internally and externally. Instead of focusing on meeting goals following a linear framework, the ecosystem allows for whatever needs a company has to be met as they arise. Technology and processes are the tools that connect the roleplayers in talent management. Willyerd highlights what this looks like in practice in her article.

Four Ways For The Future

1. Alumni Networks

Keep in touch with your previous employees. Establishing alumni programs or networks allows companies to bring back employees who have gone on to other jobs where they have gained valuable expertise. It makes the recruitment and onboarding processes much easier for companies as well by employing people who are already familiar with the company.

2. Social Media

Using social media is another valuable tool for HR managers and recruiters. People in the market for a job are likely to be following the companies they would like to work for on platforms like LinkedIn and Twitter. They are also likely to follow and engage with employees who work at these companies even before applying to them. This is a cost-effective and efficient way of finding information on applicants who are already showing interest in the business.

Manage Talent Network

3. Placement Firms

External recruitment resources can be incredibly helpful. Many companies have an internal pool of employees to work on projects as they come up. However, it may be more efficient to use an agency to find employees in the short-term. A number of firms even offer their assistance in training employees.

4. Establish a Good Employer Brand

Lastly, Willyerd highlights the importance of a company’s reputation as an employer. She draws on an example from speaking to the Chief Technology Officer of an IT company. When asked how the company has dealt with the shortage of IT professionals, he simply replied that they have no problem as they are known for being one of the best employers around.

Alumni can prove a useful tool in this. By maintaining good relationships with previous employees, they can serve as brand ambassadors for the company. Employees who have left on good terms and who received good support while they were employed through mentorship and enrichment are more likely to speak highly of their previous employers.

Managing A Talent Ecosystem

Changing talent management processes from linear goals to become a network of parts that adapt to changes is highly valuable. Maintaining an ecosystem is easy with the right tools, and the role that alumni play should not be understated.

Join the mailing list for early access to the upcoming release of The Alumni Advantage; an end to end understanding of how organizations are recognizing and leveraging their former employees, authored by James Sinclair, Co-Founder and Chief Executive of EnterpriseAlumni.