Future of Talent Management
How do Organisations Approach Talent Management?
Today more than ever before, keeping the business approach to ‘talent’ simple is a fundamental driver for organisations. However, research has identified that whilst many organisations have a talent strategy in place, very few organisations effectively communicate this to their business leaders. As a result, it is often that leaders feel unclear about what their organisation means by ‘talent’, let alone a ‘talent strategy’. Here, we understand that much of this uncertainty results from poor communication across the organisation, meaning that organisations fail to embed talent into the mindset of the workforce, resulting in a lack of employee buy-in. As a result, this research seeks to develop a greater understanding of how organisations approach talent management and whether they effectively define, communicate and apply a strategy across the organisation. Arguably, it is through effective communication and application that business leaders then emphasise the importance of human capital as an asset in driving organisational aspirations.
To explore the prevalence and effectiveness of talent management strategies, leaders from 85 organisations were interviewed through online surveys and telephone interviews. The research found:
- Many organisations do not have a clear definition of talent or a clear talent management strategy.
- Talent Management strategies are not consistently applied across organisations and are therefore not being embedded in the mindset of employees.
- Talent Management strategies are not communicated effectively across the whole organisation.
- Keeping a Talent Management strategy simple is the key to success.