High-performance talent model emerges

The new talent management model focuses less on process development and more on people development and engagement

Studies have shown that employee engagement is a chronic issue for many organisations, leading to loss of productivity and efficiency . Retention has also become more of a concern as competition for talent leads to more employees jumping ship.

As a result, talent management must increase its focus on engagement. In the past decade, HR has invested in and mastered many aspects of administration and management, but it has been less effective at creating an environment that nurtures employee loyalty. That's why the ability to engage talent is an indicator of talent management maturity, according to Bersin by Deloitte. 

According to Bersin, the majority of organisations (70%) operate at a low level of talent management maturity. Their strategy is focused on either essential talent activities or critical talent growth, but not on proactive talent engagement.

Companies should aspire to a high level of maturity marked by a clear, targeted and communicated talent strategy that is backed by integrated talent activities aligned to the business.

The new talent management model focuses less on process development and more on people development and engagement. This includes building a strong learning culture; fostering targeted, integrated and effective leadership growth activities; developing progressive diversity and inclusion policies; and creating resources and opportunities for all workers. 

This approach requires organisations to think differently about talent - not only as either an asset or a cost, but as people. When people are effectively engaged and incentivised, they simply turn in the best performance possible. Assumptions around employee life-cycles, training and development, performance assessment and management tools need to be re-examined and evolved, according to notable industry analyst Josh Bersin in his article, People Management is Replacing Talent Management. 

Adopting a new philosophy around talent management will be challenging, but with workers enjoying more mobility and demanding a better work-life balance, organisations have no choice but to rethink their approach. 

Contents of this article are part of the report: 2016 Talent Trends, produced by our sister company Randstad Sourceright.

 

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