The Beacon Group
The Real Value of Talent Management
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Are you very clear on the impact talent management has on your bottom line?
Or do you feel it is a bit fuzzy, and not really worth a significant investment?
Well, just in time to help take this important, but often undervalued business practice out of the dark corners, McKinsey & Company have published the results of a new global survey in an article entitled Winning with Your Talent-Management Strategy. In their words – organizations with effective talent-management programs have a better chance than other companies of outperforming competitors and, among publicly owned companies, are likelier to outpace their peers’ returns to shareholders.
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Through This Survey, McKinsey Was Also Able To Identify Three Common Practices That Had a Significant Impact On The Effectiveness Of Talent Management As Well As Organizational Performance
- Rapid allocation of talent – this is facilitated by effectively deploying talent based on skills needed, ensuring executive team involvement in talent management, and having employees work in small, cross-functional teams.
- HR’s involvement in fostering a positive employee experience – key to this practice is having an agile HR operating model, as well as an ability to deploy talent and skills in a way that supports the organization’s overall strategy.
- A strategically minded HR team – simply put, this is an HR team with a comprehensive understanding of the organization’s strategy and business priorities.
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If you haven’t done so already, it is time to really come to terms with the importance of effective talent management. This article can help.
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