By Corporate Executive Board
A advisor to refocusing government at the 5 expertise actions that subject.
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Extra resources for Becoming a Talent Champion: Refocusing Executives on the Five Talent Activities That Matter
Business Leader effectiveness at Key Skills and Knowledge Percentage of effectiveness Source: CLC Talent Management Effectiveness Survey; Corporate Leadership Council research. Most executives lack the commitment. The level of commitment to strategically managing talent management is the issue. Rather than ability, what distinguishes Talent Champions from their peers is their level of commitment to managing talent strategically as a top business priority. Talent Champions view their “people strategy” as a critical input into business strategy, ensuring these strategies are based on a strong talent plan that explains how staff will be developed, deployed, and enabled to meet business objectives.
EXECUTIVE GUIDANCE FOR 2011 Becoming a Talent Champion Refocusing Executives on the Five Talent Activities That Matter Too many leaders underestimate the importance of, and their role in, talent management. While it makes intuitive sense, it is now analytically clear that business leaders who are strong at talent management—being both committed and effective—get much better results. By focusing their talent management strategies and their own personal activities, the best executive talent managers generate as much as a 7% boost in revenue and profit performance over their less talent-focused peers.
By focusing their talent management strategies and their own personal activities, the best executive talent managers generate as much as a 7% boost in revenue and profit performance over their less talent-focused peers. In addition, they achieve higher talent outcomes across-the-board, including employee effort levels that are 25% higher than average and markedly better retention rates (with less than one in ten of their employees at risk of turnover). Despite the compelling financial returns, Corporate Leadership Council (CLC) research shows that only 19% of senior executives are committed to, and effective at the talent management disciplines necessary to achieve these outcomes.