The Future of Talent Management: Key Findings Part 1

May 17th, 2012 by Sarah Green Leave a reply »

Many organisations do not have a clear definition of talent or a clear TM strategy.

In part one of this series of blogs summarising our 2012 findings into the Future of Talent Management.

Our research found that TM strategies are often not fully defined or understood within organisations. For example, 68% of Leaders said that their organisation has a TM strategy, however only 59% of Leaders understand it and only 52% believe that they have a “clear definition of talent”. A total of 32% said that they do not know or understand their organisation’s TM strategy.

Leaders within different business areas also perceived the success of their organisation’s TM strategy differently. In each instance the Talent Leaders were significantly more positive about the clarity and strategy of the model than the HR or Business Leaders*. See figure 1 to see how the responses differed according to Talent, HR and Business.

It is evident from the findings that there is an opportunity for organisations to more clearly define what talent looks like and clarify their TM strategy. This is supported by The RSA Group’s (executive search firm) 2011 talent research which found that “60% of executives are not convinced that their HR teams have a clear understanding of the business’s long-term skill requirement” (The RSA Group, 2011).

Kaplan and Norton (2008) in the Harvard Business Review suggest that “from time to time managers will discover that some of the assumptions underlying their strategy are flawed or obsolete. When that happens, managers need to rigorously re-examine their strategy and adapt it, deciding whether incremental improvements will suffice or whether they need a new transformational strategy” (page 75).

By ensuring that organisational TM strategies are clearly defined, organisational “talent” will then be able to make more informed choices about their career and future growth. This will ensure that organisations are maximising their talent resources so that individuals develop in line with the organisational aspirations and future capabilities.

In instances where the TM strategy is clear, the qualitative analysis revealed that those organisations have clear structures in place to review and assess talent (including psychometric assessment, 360 appraisals, competency based assessment, key performance indicators and performance objectives), which supports talent to develop and grow for the future.

*All differences of 90% or higher has been deemed significant for the purposes of this report.

Look out next week for Part 2: Key Findings: TM strategies are not consistently applied across organisations and are therefore not being embedded in the mindset of their employees

For further information please contact: Dr Amanda Potter 01737 555 862. Reference: Talent Management. Copyright © 2012 Zircon Management Consulting Limited. All rights reserved.

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