New research from Cranfield School of Management and Halogen shows many organizations lack a cohesive talent management strategy
London, UK – April 29, 2015 – New research from Cranfield School of Management, one of Europe’s leading management schools, and Halogen Software (TSX: HGN) reveals that many organizations across the UK, Australia and New Zealand lack a cohesive talent management strategy especially when it comes to the departure of senior leaders.
Titled Strategic Talent Management Survey Results, the report presents key findings about the current investment priorities, policies and practices for managing talent in organizations across the UK, Australia and New Zealand. The study also shows that many organizations aren’t making the most effective use of HR technology investments to support their talent programmes.
Commenting on the research Dr Emma Parry a Reader in Human Resource Management at Cranfield said:”The research shows the critical issue of succession planning and the development of a pipeline of talent for key roles is still taking a back seat — this is why so many organizations are not prepared for the departure of senior leaders. Key employees such as leaders and those with specialist skills can leave at any time, with potentially devastating results if a succession plan is not in place.
“The results suggest that rather than taking a long-term, strategic approach to managing talent, employers are still being reactive and not developing joined-up strategies to ensuring that they have the skills and competencies that their organization needs.”
Key findings from the report show:
- Less than half of organizations have a talent management strategy and over a third of respondents think their strategy is not working well.
- Only 19 percent of respondents are prepared for the departure of senior leaders.
- Only 17 percent of employers are making effective use of HR technology to support talent management.
- Less than half of organizations are using HR analytics to link HR activity to business performance.
- The highest priority for investment in HR technology is in performance management.
“Although the findings show technology investment to support strategic talent management is still maturing in the majority of organizations, it’s positive to see the priority being put on performance management first,” says Nick Kemp, Regional Director, EMEA, Halogen Software. “A strong performance management process and system is critical to creating alignment and engagement, which support better business results.”
Dr Parry went on to say: “Evidence suggests that many organizations are only just beginning to realize the benefits of a holistic talent management strategy. Organizations must adopt an integrated approach to talent management in order to support the longer term needs of the business.”
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