According to a recent survey by ManpowerGroup’s talent and career management expert Right Management, only around half (49 percent) of major organizations regard talent management as a top priority. The survey of 537 senior managers and human resource professionals of U.S. companies showed that 13 percent of organizations viewed talent management as a secondary priority, while 38 percent of respondents said it is not a priority at all.
“It may be that ‘talent management‘ is still an emerging concept for non-HR professionals,” said Owen J. Sullivan, Right Management CEO and president of ManpowerGroup Specialty Brands. “Nevertheless, our research finds that HR executives are fully on board with the process, despite implementation posing a continuing challenge. What the survey data tell us is that much of senior management hasn’t yet focused on talent management as an integrated strategic concept, even if they actually support many key elements.”
Sullivan explained that a talent management strategy includes things such as recruitment, assessment, training and development, retention and leadership programs; each should be closely aligned with the organization’s business objectives.
HR professionals were asked to cite the core elements of their organization’s talent management strategy, if applicable. Results included:
- Leadership development — coaching, high-potential programs, succession management, onboarding, performance management, cross cultural competency
- Talent acquisition — sourcing, hiring, selecting and onboarding talent
- Employee engagement — engagement and retention strategies, wellness, productivity optimization
- Individual and team development — competency modeling, organizational, team and individual assessments
- Organization effectiveness — implementing strategy, workforce alignment, change management
- Outplacement and workforce transition — career transition assistance, career management and development
“Leadership development seems to be central to everyone’s idea of a talent management strategy,” said Sullivan. “Clearly this is the key pressure point for most organizations. Most seem to agree about the goals … to retain high-value talent, to ensure future leadership and to plan and manage succession.”