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To develop an effective talent management strategy, organisations need to truly understand their current and future target employees, focusing on their needs, attitudes and behaviours. When Millennials will form almost 50% of the workforce by 2020, this is now more important than ever.
Employee-based segmentations allow organisations to do this in a strategic manner, enabling them to more effectively manage their workforce and arrive at their ideal talent mix to ensure future business sustainability. Segmentation also allows scarce resource to be directed where it will have most effect, helping organisations become more efficient.
These segments display different ‘personalities’ and these help organisations know how to engage with different types of Millennials based upon who they are and how they respond to different management practices. This helps organisations to migrate from the common belief that talent management should be simply focus on skills to recognise that employee needs, attitudes and behaviours are also important.
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