Talent Management Trends for 2012
By Bob Moore, CMC
Word Count: 597 | Reading Time: 3.25 Minutes
Talent Management Trends for 2012
While there are some signs that the recession has begun to turn around in some sectors of the economy, many companies continue to take a wait and see attitude. For business leaders who have a fresh vision and a determination to grow their enterprise, it is time to become proactive in how they respond to the opportunities and the following trends.
- Movement from management principles to leadership values. Talented employees are savvy, and as the economy emerges from the recession, they will become less and less tolerant of old-school or command-and-control approaches to managing people. Almost 50 years of mismanaging knowledge workers must shift to a lead-with-values approach, such as collaboration and shared purpose.
- Focus is shifting to strategies for engaging the workforce in a compelling shared vision. To achieve optimal results, all team leaders and managers must engage the hearts and minds of talented workers.
- Stimulating growth by shifting focus on workplace culture. Best-practice companies such Whole Foods, Panera, SAS and Google, spend little on marketing; instead they put time, energy and resources into making sure they have a sustainable culture. Increasingly, customers patronize businesses that care about their employees, and will even pay more if they believe their values are shared by the company.
Cost of disengagement
A decade ago, a Gallup study indicated that 24.7 million workers (19%) were actively disengaged and were costing the U.S. economy between $292 billion and $355 billion a year. The survey, running since 1999, found that actively disengaged workers were absent from work 3.5 more days a year than other workers – or 86.5 million days in all. Gallup research consistently showed a tendency for actively disengaged workers by comparison to other workers were:
• significantly less productive,
• reported being less loyal to their companies,
• less satisfied with their personal lives,
• more stressed and insecure about their work.
According to a recent Corporate Executive Board study involving 20,000 high-potential (HIPO) employees in more than 100 organizations, 30 percent planned to change employers within a year. Twenty-one percent said they were highly disengaged at their current job, compared to seven percent in 2006. CEB Executive Director, Conrad Schmidt, said, “Our surveys have shown a dramatic increase in the disengagement of all employees. As the economy starts to improve, companies need to get back on a growth ramp. They should reboot around their high-potentials first, because this group is a critical component to their future recovery.”
Immediate Actions Required
To assure optimal engagement of HIPOs and Top Talent, now and in the future, the following seven actions executives and talent management professionals must take NOW are:
- Benchmark the essential jobs (not the people in them) to establish the talent requirements for high performance.
- Redesign hiring processes to include talent requirement as a selection criteria.
- Assess the strengths and weaknesses of incumbents, key individuals and teams and invest in career development and training programs.
- Recognize HIPOs for their contributions and acknowledge their hard work through the recession.
- Increase communications about how the company is doing, the vision, where it is going and how the roles of HIPOs fit into the plan.
- Establish mentoring programs for Top Talent and emerging leaders that provide greater access to senior executives, along with involvement in stimulating projects that fully utilize their strengths.
- Create a coach-based management approach and shift management styles to be more collaborative and inclusive.
Visit www.talentmanagementinstitute.com to access the free articles, reports and white papers for best practices for selection, alignment/engagement and development that will turn your good people into top talent.
About Bob Moore:
Bob Moore is the Managing Director of the Talent Management Institute, a resource center for Talent Management Professionals and Learning and Development Executives who want to turn their good people into top talent. He is the author of the book Turning Good People Into Top Talent: Key Leadership Strategies for a Winning Company and the publisher of over 500 articles on Leadership and Talent Management. Bob is a CMC®, Certified Management Consultant, a designation awarded by the Institute of Management Consultants for meeting international competency standards of consulting and adherence to the ethical canons of the profession and awarded to less than 1% of all management consultants.
© 2012, Effectiveness, Inc.