Are you engaging your top talent? How strong are your talent pools? Are you losing your best people to your competitors? Do you and your company have a talent mindset?
Research (Harvard) suggests that fewer than 15% of companies identify their potential talent population and those that do are not using a robust, objective and sustainable process that correctly identifies their most talented individuals at all levels.
The research also shows that once identified fewer than 20% of companies have talent programmes in place that engage, challenge and support their ‘talent’ and that realise their potential quickly enough to satisfy their own career aspirations.
Take the TRC Talent Pipeline survey and see how your organisation matches up…
1. Does everybody have clarity around what is understood by the phrase talent pipeline?
a) HR department and stakeholders
b) HR department, stakeholders and employees on the succession plan
c) Everyone in the organisation understands what is meant by the Talent pipeline
2. Does the organisation have a clear strategy for identifying talent?
b) Part developed
c) Talent strategy is developed and has a 3 to 5-year plan
3. Are there talent development programmes at all levels in place?
a) No talent /potential development programmes in place
b) Talent development programme exists for directors and above only
c) Talent development programmes at all levels
4. Have you identified the necessary skills and competencies for success in critical roles?
a) We haven’t identified critical roles
b) We have identified critical roles, but don’t have competencies identified
c) All our critical roles have a skill and competency framework
5. Do you have a talent pool database of external candidates that you engage with regularly?
a) None exists
b) We have kept some CV’s from previous interviews
c) We engage regularly with talented external prospective employees
Mainly a’s – Need to do better! You do not have a strategy when it comes to identifying and developing your talented employees. You will not be retaining your talented employees. Engaging your employees should be high priority as without talent development programmes in place you will not be attracting top talent to your organisation.
Mainly b’s – Keep up the good work! You do have some processes in place that engage some of your talented individuals, but need to extend it to all levels. You need to create more development programmes to cultivate a culture of engagement. Don’t forget to extend your strategy to engage with external potential candidates so that your company becomes the employer of choice.
Mainly c’s – Congratulations! Your company has a talent mind set as you are engaging with your talented employees at all levels of the organisation. Your retention rates with your top talent will be high. You will be attracting talented individuals and so will be the employer of choice.
TRC have supported organisations in developing their Talent Pipeline strategies. Whether it’s a HIPO programme, tools for identifying talent or strategies for engaging talented employees call the Results Centre Team today on 01858 414 240 to discuss your priorities.