from the Turning Good People Into Top Talent blog series
By Bob Moore, CMC, Managing Principal, Talent Management Institute
Talent management is ineffective at many organizations because it continues to be grounded in 20th century paradigms that are not aligned with today’s business imperatives, and does not reflect a deep understanding of the complexity, diversity, and motivators of today’s workforce. — PwC Global Trends Report
According to the PwC 17th Annual Global CEO Survey (2014), CEOs are well aware of the extraordinary challenges ahead but seem less certain about how to tackle them. 93% say that they recognize the need to make a change, or are already changing their strategy for attracting and retaining talent. But there’s still an enormous gulf between intention and action; a staggering 61% of CEOs haven’t yet taken the first step.
In 2013, 77% of CEOs said they had plans to change their strategy for managing talent in the coming 12 months – but if we look back at the past seven years of CEO surveys, talent management has been identified as the main target for strategic change in every year. And every year, their concerns about availability of talent have increased.
CEOs feel that HR isn’t ready for the task ahead. When asked how well-prepared the major functions in their business were to capitalize on transformational trends, only 34% felt that HR was well-prepared and 9% said it was not prepared at all.
It’s clear that CEOs have little confidence that HR can cope with the changes ahead – it’s up to HR professionals to prove them wrong. How about your organization? Have you taken stock of your Talent Management Strategy?
Are you like many; confused about what to do and where to start? Click on the button below to get the Special Report about the Total Talent Management System™. The report includes the ten elements that a complete talent management system must include and the six prerequisites before embarking on the transformation.
Bob Moore, CMC