This document discusses how aligning an organization's talent strategy with its business strategy can drive better business outcomes. It argues that a talent strategy is needed to ensure the organization has the right people with the right skills focused on executing the business strategy. The document provides a framework for developing a talent strategy that is aligned with and supports the business strategy, including understanding the business context, the strategic objectives, the required organizational capabilities, and implications for talent. It asserts that aligning talent management practices with the talent strategy can boost outcomes like morale, productivity, innovation and financial performance.
ROI on Strategic Talent Management: What a Business Should Expect from Their ...christa_dhimo
Talent Management is a competitive advantage, yet so many companies still base their HR metrics on "present state" instead of turning it into business data and "future state" related to strategy and advancing the business. ROI indicators should by definition promote the FUTURE return on your investment by promoting sound business-related programs to predict and influence that future state. Those rules apply to ALL strategic elements in business, yet so few apply it to Human Resource programs. This is a culmination of powerful data while presenting the story of how Strategic Talent Management can impact a business.
Talent Management and knowledge management at LGHarsh Tamakuwala
talent management and knowledge management LG with company History define of talent management and knowledge management and what are the practices used by the LG
ROI on Strategic Talent Management: What a Business Should Expect from Their ...christa_dhimo
Talent Management is a competitive advantage, yet so many companies still base their HR metrics on "present state" instead of turning it into business data and "future state" related to strategy and advancing the business. ROI indicators should by definition promote the FUTURE return on your investment by promoting sound business-related programs to predict and influence that future state. Those rules apply to ALL strategic elements in business, yet so few apply it to Human Resource programs. This is a culmination of powerful data while presenting the story of how Strategic Talent Management can impact a business.
Talent Management and knowledge management at LGHarsh Tamakuwala
talent management and knowledge management LG with company History define of talent management and knowledge management and what are the practices used by the LG
Talent management To achieve a balance between talent supply and demand, IBM often redeployed its workforce. The internal redeployment process was designed to minimize loss of productivity of skilled employees
Hindustan Unilever's recruiting process begins with the requirements of several departments and follows best practices in its recruitment and selection process.
Human resource policies are systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning.
Each company has a different set of circumstances, and so develops an individual set of human resource policies.
PURPOSE
The establishment of policies can help an organization demonstrate, both internally and externally, that it meets requirements for diversity, ethics and training as well as its commitments in relation to regulation and corporate governance of its employees.
HR policies can also be very effective at supporting and building the desired organizational culture.
Marico is among the leading FMCG (Fast Moving Consumer Goods) Companies of the World. The Strategic Management and the Human Resource practices in Marico is unique. It starts from early recruitment planning strategies until the employee wellness programs. The inclusion of latest technologies have boosted the field of Human Resources in terms of data analysis and sentiment analysis. Altogether, it has led to the diversified and improved engagement practices especially during Covid-19 pandemic.
Talent management To achieve a balance between talent supply and demand, IBM often redeployed its workforce. The internal redeployment process was designed to minimize loss of productivity of skilled employees
Hindustan Unilever's recruiting process begins with the requirements of several departments and follows best practices in its recruitment and selection process.
Human resource policies are systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning.
Each company has a different set of circumstances, and so develops an individual set of human resource policies.
PURPOSE
The establishment of policies can help an organization demonstrate, both internally and externally, that it meets requirements for diversity, ethics and training as well as its commitments in relation to regulation and corporate governance of its employees.
HR policies can also be very effective at supporting and building the desired organizational culture.
Marico is among the leading FMCG (Fast Moving Consumer Goods) Companies of the World. The Strategic Management and the Human Resource practices in Marico is unique. It starts from early recruitment planning strategies until the employee wellness programs. The inclusion of latest technologies have boosted the field of Human Resources in terms of data analysis and sentiment analysis. Altogether, it has led to the diversified and improved engagement practices especially during Covid-19 pandemic.
HRD adviesbureau GITP laat organisaties en individuen beter functioneren in hun professionele en maatschappelijke omgeving. Dit doen wij door inzicht te bieden in talenten en kwaliteiten, en door ontwikkeling mogelijk te maken. Het resultaat is dat mensen sterker, bevlogen en geïnspireerd zijn en organisaties renderend, relevant en effectief.
Once focused on more administrative functions and streamlining processes, today's talent management professional must have a direct impact on the organization's ability to meet it's business goals.
In this compelling new webinar, you will hear unique perspectives from a panel of special guest experts (Practitioners, Consultants & Vendors) on how High Impact Talent Management is being used by today’s HR leaders to improve engagement, retention & bottom line results by focusing on 3 key areas:
· Strategic HR - How to develop a consultative HR role aligned with business goals & line manager success.
· Effective Line Managers - How to create better leaders of engaged employees with the right talent, technology & decision support
Engaged Employees - Implementing the right programs, processes and technology to attract, engage and retain a highly productive workforce
Penerapan Sistem Manajemen Kinerja PT. Trikata Esa Karsa (TALKinc)Irviene Maretha
Berikut adalah presentasi mengenai penerapan sistem manajemen kinerja di PT. Trikata Esa Karsa. Presentasi ini dibuat untuk memenuhi mata kuliah Praktik Kerja Lapangan.
Dibuat oleh Irviene Maretha dari Universitas Paramadina
Agile Learning in a 2.0 World: How to Enable Informal Learning at ScaleHuman Capital Media
Digital information is being created at a mind-boggling rate. According to IDC, the amount of information created in 2010 alone will equal 100 years of tweets and 75 billion iPads. As the speed at which computers process this information exponentially increases, so do people’s expectations for how easily they should be able to access and share it.
Is your learning organization agile enough to meet those expectations? If not, you could lose employees, partners and customers to companies that are.
Join us to learn how you can use technology to support informal learning at scale — and at the speed of progress. Transform your approach to learning from push to pull. Enable users to access short and timely content relevant to their roles. Empower them to connect with peers and experts, share their knowledge and strengthen the entire learning community.
During this webinar, you will learn:
• Why agile learning is an imperative.
• How organizations are using technology to enable informal learning.
• How to use agile learning to solve specific business challenges.
• A five-step approach to designing and delivering an agile learning solution.
Running head TALENT MANAGEMENT STRATEGY .docxtoltonkendal
Running head: TALENT MANAGEMENT STRATEGY 1
TALENT MANAGEMENT STRATEGY 9
Talent Management Strategy
An HR team without a talent management strategy and plan fails to perform its role. In fact, an organization with such an HR team does not give talent management activities the importance they require (Khatri, Gupta, Gulati, & Chauhan, 2010). The hardest part in designing a talent management is getting started with the plan. An effective talent management strategy should map out the goals and priorities of an organization and tie them to its strategic plan. The current analysis will formulate a six step talent management approach to encompass an organization with two hundred people in which twenty are identified leaders. The talent management strategy will include identifying organizational goals, identifying organizational drivers and challenges, identifying gaps, defining HR priorities and goals, conducting an inventory of the talent management processes, and measuring the results and communicate success.
The first step is to identify organizational goals and priorities. The organization should identify its strategic high-level goals and priorities. The leaders should examine whether there are any upcoming changes, initiatives, or directions for the company. In the case of any new directions, the leaders should identify and list each one of them. The second step is identifying the organizational drivers as well as its challenges. Every business has both internal and external challenges. The challenges could include a highly competitive job market, results from an employee satisfaction survey, new or changed regulations and legislation, and new technology.
Thirdly, the organization required to conduct a gap analysis. Here, business leaders should compare where the organization is today with where they want it to be. Besides, it is essential to consider the risk and address the gaps in the company. For example, an organization that wishes to be ranked first in the industry for customer satisfaction needs to identify its current rating on customer satisfaction. It is only then that the business will identify the gap between its current rating and the kind of rating required to make it the leader in customer satisfactions. The risk of failing to improve the customer satisfaction rating might be a drop in sales or the market share.
Fourthly, business leaders should define the HR priorities and goals of the company. The HR goals should be based on the goals, challenges, and gaps that were identified in the previous steps. The identified goals ought to be specific, measurable, achievable, relevant and time-bound (SMART). Additionally, the HR goals should be linked to the applicable corporate goals. The HR team should introduce measures in the implementation stage to determine the effectiveness of the strategy. It is critical to ensure t ...
A company is only as good as its workforce. A company does not generate ideas, does not give service, and by itself is neither efficient nor productive. People make all of those things happen. In that sense, employees are the most important component in the quest to improve business results. It makes sense to treat employee-related expenses as an investment in the workforce. Like any other investment, this critical company investment must yield a healthy return. At Sage, we call that the Return On Employee Investment or ROEI.
These are not easy times for HR managers. Like other executives, they must do more with less. A viable approach to the consequences of an economic downturn is tighter “strategic alignment” of HR processes to the company’s overall competitive strategy. One way that HR managers might adapt to doing more with less is to develop initiatives that designate HR as a strategic partner to revenue-generating business units and to the executive team.
MacroEnterprises Case StudyHRM498Miriam Dozier.docxsmile790243
MacroEnterprises Case Study
HRM/498
Miriam Dozier
INTRODUCTION
Human resource is a management function that aims at maximizing employees performance with regard to the organization’s set objectives.
Focuses on the management of individuals within an organization.
Human resource exists as one of the departments within a given organization.
It performs various activities ranging from recruiting employees, development and training, performance appraisals to monitoring employee benefits.
It also look into matters concerning industrial relations, organizational change and transformations.
Human resource management covers the following areas, job designing and analysis, workforce planning, selection and recruitment, development and training, compensations and legal issues. Human resource management walks hand in hand with human relation movement and focuses on issues of strategic management.
2
WHY HR SHOULD BE A STRATEGIC PARTNER AT MACROENTERPRISE
Some people might argue that human resource management is not an important part of a vast business , the truth is, HR plays an important role in macro enterprises.
Human resource enhances the skills of employees within an organization, through this, the employees are able to meet the demands of the business.
Meeting the business demands by employees results in the rise of profit margins.
Human resource helps in improving the productivity of a given firm and employee satisfaction as it decreases the chances of employee stagnation and monotony.
Human resource boosts productivity through training of employees. Training helps employees to acquire confidence thus making them ready to handle challenges associated with business demands and production, the end result of all this is that, the organization ends up making lots of profits.
Profitability is one of the fundamental reasons why human resources management should be a strategic business partner. Full participation of all departments within an organization through the collaborative actions of the human resource department, promotes maximum reaping of profits by an organization.
3
WHY HR SHOULD BE A STRATEGIC PARTNER AT MACROENTERPRISE
Another key reason as to why human resource should be a strategic partner at a macro enterprise relates to issues concerning funds within an a organization,
Human resource can justify the usage of funds within a business enterprise.
For instance, it can justify why a certain project requires a certain amount of funds and why a certain amount should be allocated to certain projects and not others.
It can help in proper distribution of an organizations financial resources.
Through human resource, funding of training, implementation of competitive salaries, employee development programs can be effected.
Human resource department, looks into the welfare of employees, through the implementation of beneficial activities, the companies competitiveness and position rises thus attracting ...
The definition of talent management is the meticulously planned, strategic process of bringing on the right personnel and assisting them in reaching their full potential while keeping organizational objectives in mind.
Strategic Planning, Execution Frameworks & Organizational Health – Executive Summary
There are many frameworks and components for strategic management, planning, and execution; like a Ferrari, a BMW, or a Volkswagen, they all do the job – just differently. Ultimately, every business needs to answer some key questions:
Where are we? Where are we going? How do we get there? How are we doing? How do we function effectively? How can we influence what we cannot control? How should we appear to Customers (BtoB, BtoC)? How do we look to our investors? How do we look to our workforce? How do we sustain, and continuously learn & improve? What must we excel at to satisfy stakeholders? How do we become The Employer of Choice, and the Provider of Choice in the markets we serve?
Led by an internal team (which frequently includes the CEO, CFO, COO, CHRO, sales & marketing, IT/IS, and other represented disciplines), and sometimes also key stakeholders (customers, suppliers), the output is practical & tactical, helping to enable sterling execution & organizational health.
Strategic management is a method by which leaders conceive of and implement a strategy that leads to a sustainable competitive advantage.
Strategic planning is a systematic, organizational effort that includes initial assessment, thorough analysis, strategy formulation, its implementation and evaluation, leading to the achievement of business goals, and competitive advantage. Continuous improvement / continuous learning includes benchmarking, best practices, change management, and performance excellence. Input frequently comes from senior management, and may also come from lead investors, the workforce, key customers, suppliers, and distributors.
Execution frameworks help align the organization’s talent, organizational structure, programs, projects, tasks, processes, and technology, to ensure strategy is executed on time, on budget, as required, meeting (and exceeding) business goals. In many instances, an execution framework has few strategic objectives, numerous (enabling) tactical initiatives, measures, and targets, plans operations, monitors and learns, validates & adapts, supported by budget & resources.
Organizational health is about making a company function effectively by building a cohesive leadership team, establishing real clarity among those leaders, communicating that clarity to everyone within the organization, and putting in place enough structure to reinforce that clarity going forward, and aligning rewards, metrics, and resources.
4 Reasons Why HR is Lost in Translations When it Comes to StrategyRafael Lemaitre
It is a common theme today that HR is neglected as an administrative function rather than as a strategic enabler of the organisation. Why is that?
This white paper explores 4 different reasons that contribute for a miss alignment between HR and Strategy
Pareto Law Reviews Talent Development and Succession PlanningPareto Law
Pareto Law looks into the fast-paced post-recession marketplace in which companies are not only continuing their bid to survive, but are now actively investing in growth and
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As a Corporate Strategy Leader, you are under immense pressure to drive organizational success, align strategic initiatives, and ensure the effective allocation of resources to drive business outomes. OnePlan’s Strategic Portfolio Management Platform, powered by advanced AI, provides a comprehensive solution for managers looking to overcome these challenges with greater efficiency, insight, and impact. This webinar will explore how OnePlan’s SPM platform can transform strategic planning and execution within your organization. Learn How To:
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This webinar is designed for strategy executives, portfolio managers, and professionals involved in corporate planning and execution, who are looking to leverage advanced technologies to elevate their strategic processes and outcomes. Join us to uncover the transformative potential of OnePlan’s Strategic Portfolio Management Platform and AI for your Corporate Strategy Office.
HR AND COMPETITIVE ADVANTAGE-A comprehensive guide to using HR activities to ...Summaya Sharif
The essay is written to answer the ubiquitous organizational query; “How HRM activities enable organizations to become more competitive in their markets?”. With this essay organizations can gain a comprehensive, intricate, and pragmatic knowledge on how they can use HR as a competitive advantage so that they’re capable of making the most out of their HR activities and boost their competitiveness to stand not just firm but sui-generis in the market.
Report shows the interdependence of various source of hires and how organisations should recognise that candidates are usually influenced not by a single source anymore.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
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Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
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2. 1TALENT STRATEGY THAT DRIVES BUSINESS STRATEGY
Introduction
A business strategy, even one rendered in meticulous detail, is simply
a map. It may include turn-by-turn directions, alternate routes, travel
time estimates, and a guide to points of interest along the way. Yet
to actually cover the distance between points A and B, you need a
vehicle—talent—that won’t break down on the side of the road.
Look under the hood. Does your organization consistently have the
caliber of people it needs, when and where it needs them? Is the
board questioning whether milestones can be reached? Does Human
Resources have a clear set of strategic priorities?
In short, is the talent strategy aligned to the business strategy?
In most organizations, including the Fortune 500, total human capital
costs account for as much as 70% of operating expenses.1
To get
the most out of this investment, companies need to have a well
thought out talent strategy. By aligning talent to business objectives,
an organization gets the right people with the right skills focused on
the right initiatives to drive the organization’s strategy and accelerate
business outcomes.
3. 2
The road
to alignment
Strategic talent management consists of two key elements — a
vertical link to strategy and a horizontal link across all talent
management practices.2
The vertical link (referred to as strategic alignment) is the connection
between business needs and individual performance. A firm’s
talent management practices must develop people with the skills,
knowledge, and motivation to implement the business strategy.
Business strategies determine which roles provide competitive
advantage, the type of talent required, and the skills to be cultivated
and rewarded.
The horizontal link (referred to as integrated talent management)
reflects how all the talent management practices are integrated
into a coherent system and leveled at the same goals. An optimal
system recognizes that different types of talent have different
strategic value.3
Designing coordinated talent management practices
that consistently invest in strategically important talent generates
exceptional return for the company.
By optimizing both these vertical and horizontal links between talent
and strategy, an organization builds a talent machine that fuels
strategy execution and achieves business results.
BROKEN DOWN ENGINE
Talent and business strategies
are aligned but talent
infrastructure falls short.
STRONG
WEAK
LOW HIGH
OUT OF JUICE
Talent management is not a
coherent system and talent is
not a business driver.
How linked
is talent strategy
to business
strategy?
How integrated are talent
management practices?
TURBOCHARGED
Maximum organization
growth and performance
fueled by an aligned talent
strategy.
POOR NAVIGATION
Talent infrastructure is in
place but isn’t aligned to the
business strategy.
Figure 1
Link between strategy and talent management practices
4. 3TALENT STRATEGY THAT DRIVES BUSINESS STRATEGY
A turbocharged
talent engine
When a company aligns its talent strategy to its business strategy, it
is more likely to achieve its strategic objectives, perform better in the
market, and retain engaged, high-performing individuals.
The magnitude of the return on investment from aligning and
integrating HR practices is substantial. One seminal study found
that a one standard deviation increase in investment in aligning
and integrating HR practices is associated with a 7.5% decrease in
employee turnover and, on a per employee basis, $27,044 more in
sales, $18,641 more in market value, and $3,814 more in profit.4
Additional studies show that when companies align talent strategy
with business strategy, there are clear positive results:
• A boost in morale5
• Increased productivity4, 6
• Increased discretionary effort7
• Lower turnover4, 8
• Higher customer satisfaction6
• Improved process and machine efficiency6
• Enhanced ability to be innovative across the company7
• Better company financial performance4, 5, 7
To reap these business benefits, there are a few crucial success
factors. A company’s business strategy must be sound and its talent
strategy must be designed to support the business strategy and
integrated across all human resource practices. Although it is helpful
for the talent strategy to be based on best practices, research has
found that aligning HR practices to business strategy has a stronger
impact than best practices in achieving positive outcomes.9, 10, 11
5. 4
A clear way forward
Commonly, the approach to business and talent strategy alignment
overemphasizes either business strategy or talent practices. On one
hand, formulation of the business strategy can eclipse the execution
realities and the talent required. On the other, talent experts may
focus too heavily on general best practices without considering the
unique context of the organization.
Business and talent strategy alignment works best when the
approach includes:
• A structured process that is research-based and backed by
strong intellectual property.
• Thought leaders, experienced with strategic alignment, who
have insight on the business/industry context as well as talent
practices.
• A facilitated dialogue among top business and HR leaders.
Korn Ferry recommends a structured process to define, prioritize,
and sequence strategic investments in talent by exploring the
following areas:
Survey the business context. Aligning business and talent
strategies demands a broad perspective of the business landscape.
Understanding external business issues such as twenty-first century
trends, economic realities, and industry context can provide a useful
backdrop for the business strategy.
What industry trends are emerging? How are these affecting different
companies? What assumptions are being made about where the
industry is going? Where are competitor organizations placing their
bets?
Understand the business strategy. The next step is to gain
an understanding of the strategic intent and objectives of the
organization. Given the increased size and complexity of companies
today, one might find multiple (and possibly competing) business
strategies when surveying the enterprise.
What are the strategic objectives and plans for achieving them?
What are the critical business processes? Where are there constraints
in those processes? How does the organization differentiate itself
from competitors?
6. 5TALENT STRATEGY THAT DRIVES BUSINESS STRATEGY
Identify the organizational capabilities required. Knowing what
an organization needs to excel at in order to achieve the business
strategy is key to creating a powerful talent strategy.12
Organizational
capabilities or “core competencies,” which include success profiles
for specific roles or individuals, is one approach to bridging the talent
and business strategies.13
What can the organization be the best at? What does the
organization need to excel at to meet its strategic objectives?
Identify talent implications. A company’s leadership and talent
is the source of much of its competitive advantage. Given that,
organizations must discern exactly what talent is needed to shape,
advance, and execute the strategy successfully.
What talent constraints must be addressed to achieve the strategy?
What talent is associated with the strategic business processes and
leveraging those processes for competitive advantage?
Create an aligned talent strategy. A talent strategy synthesizes the
previous inputs—the organizational capabilities, talent available,
pivotal roles, opportunities for advantage, constraint risks—into
an actionable plan. At this stage, an organization knows how it is
measuring up on mission-critical capabilities and talent gaps. A
sound talent strategy closes critical gaps and leverages talent to
create the greatest impact on strategy execution.
Is the necessary talent available in the market? If not, what are the
differences? What are the success profiles for key roles? What best
predicts success for leaders in the organization?
Design and align HR and talent management processes. Now
the task is to fully align all the talent acquisition and management
processes so that they become a complementary force in support of
the strategy. The focus here is not simply on optimizing each process,
but making sure that the system is an integrated whole, and tailored
to meet the varied talent needs across the organization.
What is the best way to align talent processes and programs with the
talent strategy? What key metrics indicate how well talent processes
are fulfilling the talent strategy?
7. 6
Korn Ferry’s Talent Strategy Workshop—a collaboration between
a company’s senior team, talent leaders, and Korn Ferry partners—
translates a company’s business strategy into talent priorities to
jump-start the alignment process. During the multi-day workshop,
organizational leaders build a shared vision of the strategic talent
needs, identify the critical organizational capabilities, and focus
the talent investment where it matters most. The key outcome is a
talent strategy roadmap, which reflects the unique direction of the
company, and leaves organizations with specific and actionable
objectives to better align talent strategy with business strategy.
Caution: alignment roadblocks ahead
Alignment does not mean talent strategy imitates business
strategy. Too often people confuse “alignment” with “reflect.”
The logic goes like this: the business strategy is to drive
innovation, so HR must innovate, right? Not necessarily.
Rather, what HR needs to do is provide the talent that will
drive innovation. Talent strategy needs to be designed to
make the business strategy successful.
One size does not fit all. There is no single winning formula.
Tailoring talent management practices to a company’s specific
circumstance involves paying attention to industry, business
life cycle, and strategic direction considerations. In fact,
research shows that aligning HR to the needs of the business
is more valuable than simply following established best
practices for HR.11
Roles are not created equal. All roles are important to the
success of an organization. However, some roles contribute
to table stakes whereas others are vital to the success of a
specific business strategy. Segmenting talent and applying
specific talent management practices to those differentiated
segments yields a greater return on investment.
8. 7TALENT STRATEGY THAT DRIVES BUSINESS STRATEGY
The destination:
talent that drives strategy
For an organization to become turbocharged—achieving its
maximum growth and performance—its talent must be precisely
targeted toward its strategic objectives, and its talent practices must
fire in sync with one another. Organizations that have such alignment
are best positioned to execute plans and reach their goals.
Strategic talent management can further become a source of
sustained competitive advantage for organizations. However, there
are some important guideposts organizations should keep in their
sights when designing and implementing a strategically aligned
talent management system:
• The business strategy and market context should be the
primary forces shaping the talent management approach.
• In addition to aligning to the strategy, talent management
practices need to be aligned to and integrated with one
another.
• Business strategy can be translated into required organizational
capabilities which drive talent investment decisions.
• Strategically vital talent must be managed differently. By
segmenting talent, organizations are better able to tailor talent
management practices for maximum return.
Korn Ferry’s approach to alignment is designed to deliver business
results. The framework involves mapping the business context and
strategy, identifying talent implications, and creating an aligned
talent strategy. The process also includes identifying organizational
capabilities, pivotal roles, and success profiles, as well as defining the
best way to source and manage critical talent.
Talent resources represent an enormous source of sustainable
competitive advantage—if they are pointed in the right strategic
direction. When business and talent strategies align, the journey to
successful execution will be a smoothly paved road.
For an
organization
to become
turbocharged
its talent must
be precisely
targeted
toward its
strategic
objectives.
9. 8
Notes
13
1. Society for Human Resource Management. 2007. “SHRM Human Capital
Benchmarking Study 2007 Executive Summary.” Retrieved from http://www.
shrm.org/Research/SurveyFindings/Documents/SHRM%20Human%20
Capital%20Benchmarking%20Study%202007%20Executive%20Summary.pdf.
2. Bowen, David E., and Cheri Ostroff. 2004. “Understanding HRM-Firm
Performance Linkages: The Role of the ‘Strength’ of the HRM System.” The
Academy of Management Review 29 (2): 203-221.
3. Lepak, Dave P., and Scott A. Snell. 2002. “Examining the Human Resource
Architecture: The Relationships Among Human Capital, Employment, and
Human Resource Configurations.” Journal of Management 28 (4): 517-543.
4. Huselid, Mark A. 1995. “The Impact of Human Resource Management Practices
on Turnover, Productivity, and Corporate Financial Performance.” The
Academy of Management Journal 38 (3): 635-672.
5. Huang, Tung-Chun. 2001. “The effects of linkage between business and human
resource management strategies.” Personnel Review 30 (2): 132-151.
6. Youndt, Mark A., Scott A. Snell, James W. Dean Jr., and David P. Lepak.
1996. “Human Resource Management, Manufacturing Strategy, and Firm
Performance.” Academy of Management Journal 39 (4): 836.
7. Verburg, Robert M., Deanne N. Den Hartog, and Paul L. Koopman. 2007.
“Configurations of human resource management practices: a model and test
of internal fit.” The International Journal of Human Resource Management 18
(2): 184-208.
8. Bird, Allan, and Schon Beechler. 1995. “Links Between Business Strategy and
Human Resource Management Strategy in U.S.-Based Japanese Subsidiaries:
An Empirical Investigation.” The Journal of International Business Studies 26
(1): 23-46.
9. Khatri, Naresh. 2000. “Managing human resource for competitive advantage:
a study of companies in Singapore.” The International Journal of Human
Resource Management 11 (2): 336-365.
10. Lee, Feng-Hui, Tzai-Zang Lee, and Wann-Yih Wu. 2010. “The relationship
between human resource management practices, business strategy and
firm performance: evidence from steel industry in Taiwan.” The International
Journal of Human Resource Management 21 (9): 1351-1372.
11. Bjorkman, I., and X. Fan. 2002. “Human Resource Management and the
Performance of Western Firms in China.” International Journal of Human
Resource Management 13: 853-64.
12. Schuler, R. 1992. “Strategic human resources management: Linking the people
with the strategic needs of the business.” Organizational Dynamics 21 (1): 18-
32.
13. Prahalad, C. K., and Gary Hamel. 1993. The core competence of the
corporation. [Boston, MA]: Harvard Business School Pub. Corp.
11. 04
About Korn Ferry
At Korn Ferry, we design, build, attract and ignite talent. Since our
inception, clients have trusted us to help recruit world-class leadership.
Today, we are a single source for leadership and talent consulting
services to empower businesses and leaders to reach their goals.
Our solutions range from executive recruitment and leadership
development programmes, to enterprise learning, succession planning
and recruitment process outsourcing (RPO).
About The Korn Ferry Institute
The Korn Ferry Institute, our research and analytics arm, was
established to share intelligence and expert points of view on talent and
leadership. Through studies, books and a quarterly magazine, Briefings,
we aim to increase understanding of how strategic talent decisions
contribute to competitive advantage, growth and success.
Visit www.kornferry.com for more information
on Korn Ferry, and www.kornferryinstitute.com
for articles, research and insights.