PA has had an article published in Effektivitet magazine, discussing how organisations can make the most of their talent.
According to PA, the success of attracting and retaining the best talent lies in a company’s performance management strategy, which, in turn, has a link to the business’ focus of increasing commercial performance.
PA says: “A modern workplace employs an increasing number of specialised people, creating the demand for a more tailored management style. A manager must understand that what motivates their employees depends on the individual’s competencies and requirements for professional development.”
The article goes on to explain how well-known disciplines such as the ‘art of good conversation’ should be used in new ways. Often, the responsibility of having a talk with an employee lies with the head of department when, in fact, it should be with HR.
The next step is for organisations to identify how to maintain and develop their most skilled employees – making the transition from performance management to talent management. A recent study by PA reveals how Denmark lags behind other European countries when it comes to having a professional approach to developing new talents (imperative to productivity, growth and competitiveness).
PA adds: “According to our study, 35 per cent of respondents haven’t even started to couple their talent management plan with their overall business plan to ensure competitive advantage. Moreover, 80 per cent do not have a talent management approach that differs from their competitors.”
The article concludes that in order to professionalise the development of talent, companies need to redefine their culture. Acknowledging the importance of talent management should be a part of a company’s DNA, and the talent management strategy should be part of an employer value proposition and a company brand.