Customer and shareholder expectations continually increase, and a variety of forces continuously shape industry competition.1
Despite these realities, many organizations do not have alignment of: (a) talent management practices 2 (talent strategy, talent management program) & enabling human resources core competencies, (b) organizational culture, (c) strategy, (d) execution, (e) continuous improvement. 3
This is especially critical when customers, shareholders, business leaders, and your workforce are focused on value creation, measurable results, regulatory compliance, and doing the right thing the right way.
A variety of proven techniques exist to achieve alignment, and ensure that innovation and people remain the source for competitive advantage. Key components include:
(a) A Talent Strategy focusing on recruiting, engaging, and retaining your workforce that continuously adjusts and improves based on measurable results, industry best-practices, innovation, economic factors, shareholder, customer, management, and employee needs, organizational culture, and the countries and regions that it does business,
(b) A Talent Management Program focused on human capital planning, talent acquisition, talent engagement, talent development, talent deployment, leading talent, talent retention, evaluating human capital, and continuous improvement,
(c) Enabling Human Resources Core Competencies, including Staffing, Compensation & Benefits, Employee Relations, Performance Management, Training, Organizational Development, Payroll, HRIS, and implementation of policies, procedures, and practices across the business, and
(d) Alignment of Organizational Culture, Strategy, Execution & Continuous Improvement through:
- Organizational Mission, Vision, and Values, including M&A integration,
- Those responsible for strategic planning,
- Those performing the activities required to execute strategy,
- Those implementing enabling human capital, process, and technology solutions,
- Best-in-Class practices across the organization,
- Employer-of-Choice initiatives, and
- Continuous improvement.
1 Michael E. Porter, On Competition (Harvard Business School Press, 1998).
2 Companies with mature talent management capabilities see eighteen-percent higher earnings, and other benefits. The Hackett Group, December 17, 2009.
3 Robert S. Kaplan, David P. Norton, “The Office of Strategy Management” (Harvard Business Review, October, 2003).