4. Talent Management Drives Business Results lower voluntary turnover lower turnover among high-performers less likely to have had a major layoff in 2009 higher revenue per employee more capable of retaining high performers more capable of hiring the best better at responding to economic conditions better at planning for future talent needs 2009 Talent Management Factbook 26% 109% 87% 92% 17% 144% 41% 28%
Talent Management is everywhere It is the topic of choice with HR professionals today because it is how HR will secure their place as a true strategic contributor. Business Week, Wall Street Journal, Talent Management EZine, all suggest talent will be the key to competitive differentiation in a global marketplace and the race has begun.
With fewer people in today’s workforce and the baby boomers soon to retire, who are the best, the brightest, the top performers? The war for people will be intense. It’s a counterintuitive thought at this moment of high worldwide unemployment, but the post-Gateway era will be distinguished by a pitched battle for good people. George Colony, The Gateway Recession: What CEOs Will Face Next, June 23, 2009 CEOs will fight for people on three fronts: Attracting and winning the best and the brightest takes world-class offices and factories, the best internal technology, and truly compelling corporate purpose and values; Retaining the best workers takes a great corporate strategy, excellent leadership, and inspiring management; and finally Getting productivity from the limited workforce you have — again, this loops back to nailing the technology imperative . Talent management helps HR professionals to measure and connect employee performance with corporate objectives
No matter how you measure it, Talent Management provides an ROI back to organizations that cannot be ignored. These are conditions of c ompanies with mature, integrated talent management strategies “Talent management leaders are better-run organizations.” [bersin 2009 blog]
One of the most common organizational challenges to effective talent management is fragmented HR systems that lack integration between applicant tracking systems, human resource management systems, and learning management systems. ADP adds great value by offering an integrated HRIS with Talent management. This addition to our suite of services allows us to create a significant competitive advantage for our clients by delivering the widest and deepest service offering from a single source in the marketplace today. Bersin Consulting, which is the leading TM consultant is a strong advocate of this integration. It is through this integrated approach that organizations will gain greater insight into their workforce-and establish a framework to building a more engaged workforce-completely aligned with corporate goals and objectives. Common reporting, single sign on, and product integration tie it all together.
