The Future of Talent Management: Introduction

May 8th, 2012 by Sarah Green Leave a reply »

In the next series of blogs we will present our 2012 research into the Future of Talent Management.

Keeping the Talent Management (TM) strategy simple is a key driver of success for organisations. Our research has identified that whilst the majority of organisations have a TM strategy, it does not appear these are well communicated to Business Leaders. Whilst half of the Leaders interviewed, believe their organisation has a clear definition of talent and a clear TM strategy, the other half are not clear about what their organisation really means by “talent” or “talent strategy”.

We believe from our research that this is because TM strategies are not openly communicated or applied across organisations and are therefore not successfully embedded in the employee mindset. Only half of the Leaders interviewed said TM initiatives are consistently applied across their organisation and only one third believe that the TM practices are fully established and implemented.

Despite this, we did interview Leaders within organisations that have a strong TM agenda. These organisations tend to have forward looking capability models and talent strategies that are responsive to external market conditions aligned to business objectives, goals and strategies; and describe the most critical high potential behaviours for success. Few organisations (less than 30%) however use their talent strategy to show how they are different from their competitors. Organisations with a strong TM agenda also encourage their Leaders to demonstrate resilience when facing challenge and adversity, and are thought to consider the well being of their employees within the TM strategy. The implications of these results might be that whilst Leaders are encouraged to put forward ideas, only those ideas that support the status quo are likely to be considered. This finding contradicts the research on authentic leadership which states that “The key to a successful organization is having empowered leaders at all levels” (George, Sims, McLean & Mayer, 2007, page 7).

We found one contradiction within the research. Organisations encourage Leaders to play to their strengths, be authentic and unique, thus acting in-line with their personal values. However, at the same time, organisations want them to conform to the organisational norms and values.

Looking forward, the Leaders in this survey consistently agreed that they need to increase their focus on TM over the next three years in order for their organisation to remain competitive. They reported that they do not however have adequate budget to attract, recruit, develop or retain talent moving forward. This is unsurprising, when only a few organisations (less than 10%) actually prove the financial utility of using TM strategies, or measure the return for their shareholders. Indeed, whilst most organisations measure the engagement of their employees they do not use this information to validate the effectiveness of their talent strategies. Moving forward Leaders must prove the ROI and business benefits of investing in talent in order to secure the funding required for future business success

Look out next week for: The Aim and Participants

For further information please contact: Dr Amanda Potter 01737 555 862. amanda.potter@zircon-mc.co.uk Reference: Talent Management. Copyright © 2012 Zircon Management Consulting Limited. All rights reserved.

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