Key Aspects to Talent Relationship Management
We sat down with Prof. Dr. Armin Trosts to talk about Talent Relationship Management.
Prof. Dr. Armin Trost is a professor of Human Resource Management at the Business School in Furtwangen located in the Black Forest in southern Germany. He has four main roles: teacher, author, consultant and speaker.
What is TRM?
“TRM stands for Talent Relationship Management. It is a totally new way of recruiting that is much more active. It’s not the old style of recruiting where we had job ads and were waiting for the applications to come to us but rather it’s an active approach with new methods, new tools and new mind sets.”
Why is TRM so important?
“What you find in the labour market is that there is a growing demand for knowledge workers and really highly qualified people. We have talent shortages due to demographic changes and we have economical growth. Therefore, more and more companies fight for the same people, so as an employer I have to find new ways to compete and to find competitive advantage in the labour market. Talent Relationship Management is the answer to this.”
What does it mean for Enterprises?
“First of all it means that employers have to convince talents that they can offer a great place to work, so that’s a new game. In old days the candidate had to convince the organization that he or she was suitable enough. Now we talk mainly about employer branding and building talent pools. Once you have met a candidate you put the candidate in a talent pool and try to stay in touch with that candidate.”
What are the Three Key Points in your book about TRM?
“What I focus on in my book, is that whatever you do you have to be fast, at least you have to be faster than your competitors. You have to be appreciative, showing the candidate that you really want him or her, making them feel like a customer – it’s the same thing. The third thing is transparency: show the candidate what the current status is, what the next step is and why you do different activities. All of this together is there to shape a very positive experience in this relationship between the employer and the candidate.
How to find top candidates in today’s labour market?
The key word here is active sourcing. If you really want to hire great candidates, you need to search for them. The top talents are not going to be actively looking for a job. If candidates are passive, if they don’t visit your website, if they don’t go to job fairs, if they don’t go to job portals, then you as the employer have to become active. How do you do this? You have to use your professional networks to gain for example employee referrals, you need to connect using LinkedIn or Xing and you need to implement talent sourcing. Either way it means you go out, you find your target group, you move towards the target group and then actively get in touch with them.
How can you start TRM?
There are organizations that do TRM really well and there are others that do it poorly. What is the difference between the two? The difference is, those that do it well really understands that recruiting is a new game, it’s about the rethinking the entire game. They understand that they have to focus on the talent! Additionally, there are organizations that do TRM just ‘okay’. However, if you don’t want to be just ‘okay’, if you want to do it really professionally, you have to have systems, at least if you are a large scale organization. You also have to have the right type of establishment and you have to have the right competencies with those who know talent relationship management. Therefore, it’s also about the infrastructure. To have a successful TRM strategy you need to do things not only just ‘okay’ but you need to do it really well.
Thanks to Prof. Dr. Armin Trost for the interesting interview about Talent Relationship Management!