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As you move into the fall, it’s time to think about the future of your business. This year has been unprecedented, and you may feel like planning for the future is still a bit impossible. Nonetheless, having a flexible strategy in place is important. The right strategy will allow you to navigate the future, no matter what’s on the horizon.

It will also help you grow your business in the direction you want. One essential component of a growth strategy must be effective talent management.

Why is talent management so important for business growth? In an environment where people define your business, it’s not difficult to see why.

Your Team: The Last Competitive Edge

Talent management has become more important than ever. Experts have been suggesting for years that there are just a few ways businesses can differentiate themselves. One of these final frontiers is talent.

To a large extent, your people make your brand and your business. Your team members have more of an impact on your clients than the products or services you offer.

This makes a lot of sense, because many businesses offer similar products. Customer service thus becomes the differentiating factor. Customers want to feel like they matter to the business, and they want to form deep, lasting relationships with the businesses they work with.

They can’t do that if they speak with a new rep every time they call you or have to explain their problems over and over. They also won’t form deep relationships if your team members deliver poor service.

This is even more true if what you provide to your customers is a service itself. A tech team that goes over and above is going to stand out in the minds of your customers, more than a company that’s offering the “latest, greatest” tech.

Developing Brand Ambassadors

This is where talent management becomes key. You want to hire people who mesh well with your business values and culture. These people will reflect what you provide to your customers, and they align themselves with the business mission.

So, if your mission is to go the extra mile for every customer, finding the right solutions every time, then hiring people who are relatable, empathetic, and great at creative problem-solving is going to be imperative.

You also want to make sure your team members are acting as brand ambassadors. They represent you to your customers. They should be invested in putting the business’s “best foot forward,” so to speak. They should know that how they interact represents the business as a whole. Their interactions will help the business grow—or not.

Employees who mesh well with your company culture and share the same values will be ready to provide better service. That’s because they believe in the business, and they want it to grow and succeed too.

Developing Talent from Within

Another reason you need to look to talent management for business growth is because you want to be able to develop some talent from within the business. These people will be the leaders of tomorrow, and they’ll help you to move the business to new heights.

You can’t create and fulfill a vision for the business’s future if you’re constantly losing your best people or hiring people who have the wrong skills for moving up the chain. That’s a recipe for mismanagement and it spells trouble for the future of your business.

Effective talent management not only helps you hire the right candidates but it also helps you spot the right people for mentoring and training. As you develop talent from within, you’re securing the business’s future.

Compete Effectively Against Other Businesses

Finally, the right talent management will help you compete in a crowded marketplace. We already discussed how this helps you compete in the customer service arena, but it also helps you by ensuring you have the right people to move the business forward.

Good talent management helps you spot people who have innovative ideas and those who are problem-solvers. It also means you have a team the outperforms your competition, letting you get ahead of the rest of the pack.

As you can see, business growth and effective talent management are deeply linked. If you want to grow your business, then it’s time to focus on your talent management. The right processes, as well as the right technology, can help you get there.

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Mario Malatesta

With experience in the financial services industry and the group benefits industry, Mario Malatesta founded GroupQuest Benefits Resources Inc with just his business partner. Today, GroupQuest is a leading Group MGA in Canada with about $150M of group insurance premium in force and a support team of over 35 staff members including: renewal, marketing, sales, and service support teams. GroupQuest has offices in Vancouver, BC and Calgary, AB, as well as a head office in Mississauga, ON.   Mario is married with two children (twins). He enjoys many different sports and travelling with his family.

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