Successful organisations have the 'right talent in the right roles at the right time' and their talent management strategies map directly to their business planning strategies. The core elements of talent management, i.e. talent acquisition, development, retention and succession planning, are not 'only HR' practices, they are business mandates and without them, business will fail, or at best, fail to create a competitive advantage by means of optimising their human capital investment.
Integrated talent management does not only mean that talent management practices are fundamentally integrated and aligned with business requirements, it also means that all aspects of talent management are integrated with each other to ensure optimal effectiveness. Performance Management must inform coaching and development, which must inform high potential identification, which must inform succession planning etc. An integrated Talent Management Strategy, introduced in a collaborative and transparent manner, has a demonstrable impact upon both business performance and talent retention & engagement as outlined opposite.
26% higher revenue per employee
40% lower turnover among high performers
17% lower overall voluntary turnover
87% greater ability to 'hire the best people'
156% greater ability to 'develop the best leaders'
92% greater ability to 'respond to changing economic conditions'
144% greater ability to 'plan for future workforce needs'
* Bersin & Associates Talent Management Factbook
Matheran has assisted many clients in implementing transformational integrated talent management strategies by adopting a pragmatic and highly effective phased approach as shown in the model below:
What could be improved?
What talent processes do we need, and when, to support our business strategy?
How do we design and implement specific processes?
We would also be pleased to assist your organisation in creating a competitive talent advantage.