Talent Management Strategy Requires a Needs Assessment?
Right Management Survey Reveals Little Consensus on Talent Management Strategy
Results show organizations struggle with attracting and retaining the necessary talent required to succeed
PHILADELPHIA, Nov. 8, 2012 /PRNewswire/ – Only 12% of major organizations have a fully implemented talent management strategy, according to a survey of 537 U.S. companies by Right Management, the talent and career management expert within ManpowerGroup.
25% said they have created such a strategy but face challenges with its implementation.
Similarly, 7% reported having a strategy but described it as merely a statement of objectives and/or philosophy.
The largest group (44%) reported that they have a series of separate HR processes which are not integrated as a true talent management strategy.
12% admit to not having any strategy at all.
- 12%: We have a fully implemented talent management strategy
- 25%: We have a talent management strategy, but face challenges in its implementation
- 7%: We have a talent management strategy, but it’s mainly a statement of objectives and/or philosophy
- 44%: We have a series of separate HR processes, but they are not integrated as a true talent management strategy
- 12%: We do not have a talent management strategy
Quoting Owen J. Sullivan, Right Management CEO and President of ManpowerGroup Specialty Brands…“While 12% of organizations have no talent management strategy at all, it is of equal concern that 76% of organizations face many obstacles preventing them from implementing a talent management strategy.“There is a need for companies to commit to a systemic effort to assess and align their talent management strategies in the context of their business strategies and build a pipeline of necessary talent required to succeed.“The findings suggest that organizations of all types are struggling with how to address the critical challenge of attracting, developing, and retaining the necessary talent required to meet and execute their business strategy.”
But the survey suggests there is not much agreement on what a talent management strategy ought to be, even though most companies are convinced they should have one, observed Sullivan.
“The concept appears to vary from one company to another and putting any such strategy into action is also a problem.”
The survey also explored the obstacles organizations face in implementing a strategy.
- 18%: Insufficient budget or resources
- 17%: Not enough clarity or focus
- 17%: Need to balance short-term with long-term needs
- 10%: Lack of senior management support
- 10%: Other
- 9%: Lack of HR resources
- 9%: Organization culture does not support
- 5%: Rapidly changing business environment
- 4%: Lack of tools or technology
Sullivan continues…“The lack of clarity and focus suggests that organizations have yet to spend time developing the real business case for a talent management strategy.“A disciplined process is needed that reveals the actual and quantifiable risks and trade-offs associated with having or not having a strategy.”
Asked to estimate the proportion of companies that have implemented an actual talent management strategy and not merely a statement of goals and objectives, 34% of respondents believe as many as one-in-three have already done so.
Right Management conducted a survey of 537 senior managers and human resource professionals during the first quarter of 2012.
Shari Fryer, firstname.lastname@example.org or 970-846-6607.
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE Right Management
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