Attracting, retaining and developing people, and measuring the impact on your organisation is becoming a critical part of company success for CEOs and CFOs. Most executives are aware of it, but it’s now time to take action. With faster innovation cycles, in a volatile economy, where do we start? Who is involved? What is the impact for the company? How do we measure it?
TOP TIP 1
To measure the impact of your talent management, don’t only trust the ROI. Your talent management strategy should provide much more than that. ROI puts the focus in one area and may drive decisions that are not best for long term goals/interests.
TOP TIP 2
The current alignment and process integration of your business strategy with your HR strategy will provide a clear picture of your HR maturity. This maturity will lead your company to a higher investment in talent management and structural organisation, resulting in a much better business impact.
TOP TIP 3
The software implementation for talent management is a catalyst for process re-engineering in your business. Use it as a part of the solution to generate a process review, manage change and increase the impact on business results.
TOP TIP 4
As the core metrics could have different benefit categories, select a prescriptive approach aligned specifically with your core business to measure the impact of the talent management strategy.
TOP TIP 5
To keep ahead of your competition, you need to learn from your data to understand the past, whilst measuring the implications of your future actions. The predictive and prescriptive analyses of your talent are the most developed solutions to provide actionable predictions and recommendations to achieve your business goals.
Investing in qualified people, measuring their business impact, and taking action is an executive responsibility. Talent management has a direct link with company performance. With the help of technology and the CHRO’s support, the CEO and CFO now have the ability to measure the direct impact of their talent on their business. Talent management should be managed frequently with key performance metrics that align with your business specificity. It’s critical for your company leadership.
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