Is Your Talent Ready?
Is your plan for talent ready for what your business will face tomorrow? As a leader, it is sometimes challenging enough to get the day-to-day work done in a way that makes sense. But it is your job to ensure that your team will also be ready to face the challenges of tomorrow.
Your plan for talent must support the future success of your organization.
The Definition of a Plan for Talent
We define a plan for talent as the people strategy required to attract, develop, engage and retain the talent required to move the business strategy forward. This includes making sure that employees have the skills that not only serve the needs of the company today but prepare them for the skills needed for tomorrow.
Why Preparing for Tomorrow Matters
We forecast that up to two-thirds of today’s workforce will, in the coming five years, experience considerable change in the ways their jobs are configured. That’s a significant number of employees who will need to be re-skilled, up-skilled or shifted into other roles.
The Skill Development Challenge
Based upon measuring over 800 training projects, we know that only 1-in-5 participants change their behavior and on-the-job performance from training alone. Without consistent feedback, coaching and accountability, behavior change is rare. Combine that with McKinsey’s findings that only 10% of frontline training is effective in preparing managers to lead, and you begin to understand the challenges faced by today’s learning and development functions.
What Does It Take?
For leaders who are serious about keeping their talent ready for tomorrow’s challenges, you must:
The Bottom Line
Organizations with higher capabilities in leadership and talent management outperform their peers in terms of profitable revenue growth. For companies that rely on their people to succeed, business results depend on designing and implementing the right talent management strategy. Are your workers set up to succeed both today and tomorrow?
To learn more about how to build a winning plan for talent, download The 3 Big Corporate Culture Myths about Talent
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