Realising performance advantage by bringing talent management to life
Enter your details to download the key findings from our talent management research 'From Compliance to Commitment'. >
The financial rationale for talent management is clear. Research by PA reveals that Total Shareholder Return for companies where talent management is well embedded can be up to 67% higher than for companies where it is not.
Yet despite this, talent management in many organisations remains a box-ticking exercise. Leaders and line managers tend to comply with talent processes rather than show any real commitment. In fact, 58% of our research participants said that talent management is not well embedded in their businesses. Only 22% felt confident enough to say that it is.
To realise the performance advantage that talent management offers, human resources practitioners need to transform the way talent management is perceived. They need to take leaders and line managers beyond compliance and bring talent management to life as an integral part of the way the company achieves its business goals.
Based on research covering 58 major companies, PA’s report, ‘From compliance to commitment’, identifies six key areas you can focus on to really embed talent management and bring it to life in your organisation.
Our research highlights six priority areas for embedding talent management effectively in your organisation.
Recognise the context
Talent management is less about imitating standard best practices and more about selecting the right practices that reflect your organisation’s unique character and context. Our talent management research shows you how to partner with leaders and line managers to develop a shared understanding of the key talent issues and future direction.
Define what you mean by talent
Having a clear definition of talent is essential – you can only find talent if you have a clear picture of what you are looking for. Our talent management research explores different approaches you can use to establish and communicate a definition that’s right for your organisation. We also highlight the pitfalls that can derail the process.
Address the debate on transparency
Organisations that have open talent practices tend to be better at embedding talent management than those that don’t. But this topic is the subject of fierce debate, and there is no one solution that works for every organisation. Our research explains the issues you need to consider to reach the right decision on transparency in talent management.
Recognise the need for simplicity
Complex processes can turn the business away from talent management. Our research shows you how to develop processes that are simple, robust and integrated with existing business and HR processes.
Build talent management capability
Talent management is executed effectively through the conversations between individuals and their line managers. Our research shows you how to engage managers in developing their skills in this area. We also look at the role that HR practitioners need to play.
Take action on talent management
The final section of our report focuses on the fundamentals required to implement talent management successfully. We highlight the importance of having robust and relevant HR data as the basis for talent decisions, examine how developing different ‘development deals’ for different types of talent can boost corporate performance, and explore ways of mobilising talent within your organisation.
Enter your details to download the key findings from our talent management research, ‘From Compliance to Commitment’. >
To find out how embedding talent management can deliver lasting impact for your organisation, contact us now.