Why all this talk of talent management suddenly?

“Managing talent has now overtaken “risk” as top of the CEO agenda, according to analysis from Price Waterhouse Cooper’s 14th annual CEO survey. 83% said they plan to change their talent global management strategy in the next 12 months and for 31% of these changes will be major”

Talent management encapsulates the following things: Retention, Employee engagement and companies vision for future and current employees.

And if not managed successfully the impact to the business financiall can be excessive. To give you an idea of that cost ? The annual cost of staff turnover for medium to large organisations can be in some cases 9 % of the company’s annual turnover, to put that into context. An organisation with an annual turnover of 12 million would be looking at a cost of 1.08 million to the business to replace and train new staff? Therefore in these difficult financial times it’s critical that we have robust a clear talent management process in place to make sure our investment in staff is not a poor one.

One of the main obstacles in implementing a successful talent management programme is that it requires the full support of the senior executive team—and especially the support and personal commitment of the CEO. Talent management is not an HR program; rather, it is the CEO’s program. The CEO is the chief customer and constituent.

Here are several action steps that are necessary to gain commitment from the senior level:

• Clarify and communicate why a talent program is needed for the organization, based on its business needs
• Specify the measurable results desired from the program
• Gain agreement from, and the full support of, the senior executive
team and CEO for the talent program
• Decide what action steps will be taken to meet the program needs
• Clarify the roles and behaviours of the HR department, top managers,
middle managers and workers in the talent program
• Establish methods of holding people accountable to meet measurable
Talent management objectives

To find more on how to go about implementing a talent management training plan, download our White paper for free on our website www.london.dalecarnegie.co.uk

Mark de Stadler
Performance Training Consultant
Dale Carnegie