Right Management recently released the results of a survey of over 500 US companies that found that only half of major organizations regard talent management as a top priority. Truthfully, I was shocked by these results. As we usher in a new year under tough economic times, how do companies expect to survive, let alone grow, if they don’t have the talent necessary to accomplish business objectives?
The survey authors suggested that although HR executives are on board with a talent management process, that it is still an emerging concept for non-HR professionals. It has been my experience with some of my clients that if non-HR professionals are educated on the subject of talent management, the more they understand and buy into this concept and make it a top priority. As HR executives, we should seek ways to educate others about the talent management process either through seminars, meetings, webinars, in-house or outside training programs.
Another interesting point made from the data collection was that even though senior management might support key elements of talent management, they haven’t yet focused on the process as an integrated strategic concept. Integrating talent management across an organization can be a challenging and daunting task, but it is well worth the time and hard work. For example, one of our clients does an awesome job at recruiting and developing talent. At the beginning of each quarter, the senior management team and HR meet to develop their talent management strategy. Each department head has their own plan and shares it with the group. Once the recruitment strategy is set for each group, it is then integrated within the overall company’s mission. The groups reconvene towards the end of each quarter to review the progress. Changes and adjustments are made, if necessary, and the overall recruitment strategy is updated. This process has been instrumental in the continued success of the organization. By integrating this talent management process across the organization, the employees are happy and the company has noticed a drop in employee turnover.
I think it’s our job as HR professionals to work with executives and encourage the investment into building an integrated talent management strategy that creates ways for an organization to keep a competitive advantage. Now that a new year is quickly approaching, make sure you get on your leaders’ calendars to discuss the implementation of a talent management strategy!
