Key Drivers of Talent Management Revealed

Key Drivers of Talent Management Revealed

Just when you may be despairing that no one appreciates your work, the 2006 Talent Management Survey has been released. Announced on Monday at the International Association for Human Resource Information Management (IHRIM) Conference in Washington, the results of the survey reveal that an overwhelming majority of companies cite talent management initiatives as a major sector of interest within their organizations for the next three years.

Conducted jointly by San Ramon, Calif.-based human capital management technology consultancy Knowledge Infusion and Burlington, Mass.-based IHRIM, an organization for human resources technology professionals, the survey found areas such as performance and learning management, succession planning and recruiting set for growth. Survey respondents, comprised of IHRM’s 3,000 members and Knowledge Infusion’s customer base, are primarily in HR management, with a majority representing organizations that generate more than $1 billion in revenue. According to a release issued this week, reasons cited for the increase in importance of talent management included recognition of the link across training, knowledge and performance, what was seen as a looming talent shortage and the realization that internal re-deployments of workers can often be more effective than external recruiting.

More than 77 percent of respondents said they would see dramatic increases in talent management initiatives within the organization over the next three years, Knowledge Infusion CEO Jason Averbook noted in the release. Substantial buffing up may be needed, for instance, in the area of human resources process and technology, which more than 40 percent of organizations surveyed said they currently have little or none of. "The lack of integrated processes along with little to no measurement of the workforce demonstrates that most organizations should increase their focus on talent management initiatives immediately," said Knowledge Infusion president Heidi Spirgi. And that’s not the only finding underscoring a deficiency.

Forty-two percent of respondents reported little to no effectiveness in the relationship between HR and training in creating and executing joint human capital management initiatives.

Fifty-two percent said HR is never invited into the boardroom to discuss future organizational goals; 38 percent do not have a senior executive at the company who is responsible for the performance of the workforce; 88 percent report their organization is limited or not successful at all at aligning business goals to measurable business results; and 72 percent said they have no analytic tools to measure the impact of HR on business results.

Luckily, though, help is on the way. Fifty-four percent cited they are planning to purchase a performance management solution over the next three years and 78 percent indicated collaboration between training and HR will be greater over the next two years. For more information, visit http://knowledge-infusion.form25.com/newsletter.

Source: Training Magazine