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Economic uncertainty reignites the talent debate
 
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Economic uncertainty reignites the talent debate: Five key steps that HR leaders can take

As part of our 2010 survey of HR leaders, talent managers and HR professionals in companies across Europe, we identified five key areas of focus for talent managers in 2010. These will help your organisation successfully adapt to the challenges posed by the tough economic climate.

1. Develop and position capable leaders to inspire others: success will stem from a rigorous analysis of where the skills lie in your organisation and introducing development programmes. This will address any gaps while providing mentoring and support for talented junior or middle management, giving them the skills to meet the organisation’s future needs.

2. Understand the resources you have now and what might be required in future: be creative about building future capability. By being open to the potential of partnerships and strategic alliances, greater flexibility and better access to specialist skills can be found, often at a lower fixed cost than an in-house resource.

3. Engage your people in the current challenge your business faces: communication has to be consistent and constant. There should be as much direct face-to-face communication as possible and, in particular, difficult messages should be delivered in an open, transparent and timely way. Any communication vacuum will be filled with negative rumour.

4. Demand a performance culture: it is essential to give leaders the support and training to use the performance management process effectively. They need to be able to set demanding yet realistic and measurable targets and then manage any poor performance.

5. Increasing HR’s return on investment: the recent economic challenges present an opportunity to become more business driven and to build credibility. Your HR team can play a critical role in securing wider business cost reduction as well as ruthlessly prioritising the talent activities that can demonstrate added value.

To discuss how we could support you in achieving excellence in leadership development, please contact us now.