Realizing the Talent Dividend
Effectively leveraging employee experience via holistic workforce planning.
With the changing global economy, the importance of Talent is also changing. Talent has grown from being a business expense to becoming a business investment - one that drives an organizations performance and its bottom line.Today, talent management is not just concerned with effectively acquiring, developing and retaining the talent companies have on hand; it’s broader than that.
It is about using those assets to gain a competitive position in the marketplace and understanding how to make the right choices, from among many, in responsibly recruiting and deploying talent, based on global trends and events. It’s about pulling the appropriate levers, prioritizing options and analyzing the return on talent investments. True talent management is the process of “operationalizing” talent, i.e., getting, keeping, and effectively leveraging talent — now and in the future — to effectively implement and maintain a company's business strategy.
Indeed, organizational talent has a direct impact on the bottom line — on the income statement and balance sheet. Specific financial drivers in the talent economy include: improved productivity, cost management, revenue growth and improved profitability. These drivers are dependent on having the suitable talent, and utilizing that talent to its fullest potential.
So what happens to organizations that do not harness the business value of their talent? Simple. They will fall behind. In a global economy, where trends and opportunities are constantly shifting, companies that are not prepared to look into the future — and meet the demands it will likely place upon them — may lag behind their competitors.That is not a good place to be.
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