Are You Failing In Talent Management?
Corporations face a myriad of pressing issues, from competitive threats to risk management, debt to the regulatory environment, but a recent comprehensive survey by Harvard Business Review, of over 1,000 board members around the globe, found that a corporations single greatest strategic challenge is talent management.
The survey, conducted in partnership with WomenCorporateDirectors and Heidrick & Struggles, rated nine dimensions of talent management: attracting top talent; hiring top talent; assessing talent; developing talent; rewarding talent; retaining talent; firing; aligning talent strategy with business strategy; and leveraging workforce diversity.
Although the survey identified that talent management is now top of mind, most organizations gave themselves a failing grade.
Lou Adler, Author of Hire with Your Head, offers 8 tips to improve your organization's talent management score in his recent blog post, "Why HR Gets an 'F' in Talent and How to Get an 'A'"
1.) develop a talent acquisition strategy, that is understood, supported, and tracked
2.) include performance measures for how well a manager improves their team
3.) increase management input into hiring decisions
4.) recognize different approaches are necessary depending on scarcity of talent for a position
5.) workforce planning expands the view 2-3 quarters ahead
6.) quality of hire is the primary metric, not speed or low cost
7.) hire the best person available, not the best person who applied - involve a skilled recruiter
8.) offer career opportunities - make sure you communicate this in the job description
HireQuality provides Recruitment, Talent Management, and Management Coaching services to meet your organizations needs. Call us at 416.413.1177 or visit our website for more information.