The Future of Talent Management: Key Findings Part 11

August 31st, 2012 by Sarah Green Leave a reply »

TM strategies are responsive to external market conditions, but they do not show how they are different from their competitors.

Here is the next part of this series of blogs summarising our 2012 findings into the Future of Talent Management.

Our research suggests that the majority of organisations ensure their TM strategy is not operating in isolation and is therefore flexible, valid, and responsive to market conditions. 78% of the Leaders surveyed confirmed that their organisation’s talent model takes the current market conditions into account. This includes a high percentage of Talent (80%) and HR Leaders (83%). A slightly more conservative 71% of Business Leaders concurred.

The Centre for Creative Leadership (2007) recognises the importance of being responsive to the external market, explaining that “development should not occur in a vacuum. Development strategy must be based on the business strategy and requirements for effective execution. It should be directly related to the quantitative business goals and measured through key performance indicators against those goals” (page 10).

However, whilst organisations consider business strategy and external requirements, our research also suggests that organisations may not perceive TM as providing a competitive edge. For example, only 28% said that the organisation’s talent model shows how they are different from their competitors. Very few of the Talent and HR Leaders (26% and 31% respectively) and the Business Leaders (27%) believed that their TM strategy demonstrates how they are different from their competitors.

It therefore seems that while a talent model may not explicitly differentiate an organisation from its competitors, it is however applied in the belief that it will deliver a competitive edge. Lewis (2011, page 45) concurs and recognises that having a TM strategy will enable organisations to set themselves apart from others, by developing and shaping raw talent into organisational strengths.

Therefore, there is an opportunity for organisations to differentiate themselves from their competitors by using their TM Strategy as a positive and unique differentiator providing them with competitive edge and presenting themselves as an employer of choice.

Look out next week for Part 12: In this economic climate, organisations are more likely to develop existing employees than recruit new talent.

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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