Understanding what constitutes an effective, actionable talent strategy and how to execute that strategy is the first step towards implementing a successful talent management program. A good talent strategy should support the “basic engine” needs that keep an organization running day-to-day, as well as address strategic challenges to position the company for future growth.
Understanding and managing the magnitude of change, quantifying the economic impact of talent solutions on business performance and measuring outcomes are critical elements of talent strategy. To be most effective, organisations must embrace next-generation talent management thinking and approaches.
The talent management landscape is in a period of significant change. For years we have seen various "pictures" of talent management, typically a circle or cycle of the various talent processes with some central or integrative mechanism at the core of the cycle.
What is at the core of talent management has varied over the years (competencies, high performance culture, development of high potentials, etc.) based on macro-economic conditions, development of new and innovative technologies, and documented successes from leading companies. This will continue to evolve moving forward, but the latest Mercer research indicates that the core of strategic talent management is the ability to forecast the talent pipeline and actively managing the mobility of talent.
This new research blends the changing world of talent management with the new, developing discipline of strategic workforce planning. Please join Jason Jeffay, Senior Partner at Mercer, as he presents a new vision for strategic talent management that focuses on five core principles:
• Know what Talent Matters
• Create the "managed pipeline" of talent
• Forecast the pipeline
• Accelerate the pipeline
• Govern the pipeline