Companies face an uncertain world, where the business environment is changing rapidly. To ensure they have the right people in place now and access to the skills and capabilities they will require in the future, companies need to be proactive and agile in their approach to talent management. However, many have not yet understood the clear business case for embedding talent management processes and being proactive in planning for their future staffing needs.
Effective talent management and succession planning will successfully harness talent and better position companies to win in an increasingly competitive global marketplace.
There are three key areas that businesses need to focus on to ensure they have the right people in place to manage in uncertain times.
Secure leaders with the right skills to set a new direction and new culture for a changing world: In order to identify and develop future leaders, companies must set out a standard for leadership competencies that is linked to the company’s current business strategy and is flexible enough to change as the needs of the business change. The kind of competencies leaders require in a changing world include enabling others, building relationships with suppliers and reducing complexities.
Review the current culture of the organisation and compare it with the target culture: With a clear view of their current culture and their target culture, companies can use tools such as the Denison model to close the gap between the two. The Denison model measures four critical traits of culture and leadership (mission, adaptability, involvement, and consistency).
Assess the organisation’s talent needs both now and in the future: An assessment of their talent needs will allow companies to develop a proactive strategy to fill any gaps through recruitment, the development of existing staff and redeployment. This strategy should focus on accelerating the development of a pool of people with high potential and be underpinned by transparency about succession so that employees know what they need to do to get to the next level.
All this requires an effective HR function which acts as a strategic business partner and not simply an administrative function. In this role, HR can help guide thinking on the right structure for the business and advise on strategies to secure the skills to meet business goals.
PA has been working with one of the world’s leading brewers to adopt this model and has helped the company transform its HR team into a true HR business partner that drives the strategic agenda and develops leadership on a global level.
To find out how your company can become fit for the future by putting the right talent management processes in place, please contact us now
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