Earnings can increase by 15% when the talent strategy is aligned to the business outcomes.
Reed Flesher, “How a Strong Talent Management Strategy Benefits Your Business,” Thrive, March 29, 2016
We work with leaders from both the business and HR to identify the workforce performance requirements needed to support the business strategy and create a plan to address these requirements.
Without a talent strategy, organizations may hire for the wrong skills, fail to develop the right skills, waste the value of top performers, and impair the workforce by failing to give them the necessary tools to execute effectively. The strategy we develop alongside the organization applies recruitment, performance management, employee development, and succession planning to proactively equip the workforce to deliver on the business strategy.
Identifying the Most Valuable Work
A Global 2000 technology company was preparing to scale their workforce rapidly and needed to identify the work with the most strategic value to the organization to inform their recruiting efforts. The business and HR needed to come together to identify and prioritize the work activities and related competencies with the most strategic value for the organization. The organization's recruiters required a clear understanding of the competencies the organization required to find the best people to meet the future needs of the business.
We met with representatives from both the business and HR to define the work activities and identify the corresponding competencies. Using existing process flows as a starting point, we clustered related work activities into groups and worked with the business to prioritize the groups of work activities by strategic value. HR was then able to identify the competencies necessary to perform each group of work activities while focusing on those most essential to the business.
Both the business and HR knew which work activities and competencies would add the most value in reaching business objectives. This exercise gave the recruiters perspective into which competencies and work experiences were essential and which we not, allowing them to build and prioritize a larger pool of candidates to support the organization's rapid growth. Existing employees also benefited from the clarity they received around the priorities of the business, allowing teams to maximize their impact by focusing their efforts on the most valuable work activities.