Companies must focus on talent management to gain competitive advantage in tough markets, according to Hewitt Associates, a global human resources services company, which today issued its second talent management survey. The research shows that companies are risking business performance by failing to manage their talent effectively. While three quarters of companies have in place a talent management strategy aligned to the business, only a third are proactively implementing this. This has a direct impact on the business; half of the companies surveyed admitted to missing crucial opportunities as a result.
The second Hewitt UK Talent Survey, entitled “Building the Talented Organisation”, gathered responses from 240 companies based in the UK. The outcomes raise some fundamental questions about how organisations are managing talent. While there is increased commitment among senior business leaders to talent management, and the majority of organisations have developed strategies over the past decade, many HR functions have yet to demonstrate that this is being effectively implemented.
http://www.hewittassociates.com/Intl/EU/en-EU/AboutHewitt/Newsroom/PressReleaseDetail.aspx?cid=5519
It’s clear from our findings that there is a substantial difference between the aspirations of executive management to nurture and inspire talent, and the reality of how that talent is managed on a daily basis. The ability to resolve this could be a key differentiator in managing next generation talent and will translate into real value to the business.
