TALENT MANAGEMENT CAPABILITY
Key components of talent management capability are listed below. How does your firm rate?
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Talent Culture
- Senior executives within the firm fully embrace, are held accountable and effectively execute well-defined talent management responsibilities.
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Development
- Specific development plans and measurements are in place for identified hi-potential leaders and critical, well-established executives.
- Executive teams, as well as key technical and strategic teams, are provided ongoing support to ensure alignment and efficient execution of goals.
- Key hires and internal succession-related promotions are supported with a thorough on-boarding effort to help ensure success.
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Talent Needs & Supply
- The skills required to execute the firm’s strategy are clearly identified, talent needs are well-defined, and talent acquisition plans, using balanced external hiring and internal development, are in place to strengthen leadership capacity.
- Sufficient internal talent pools exist to supply needs in the technical and managerial levels in support of current and new initiatives.
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Talent Identification & Succession
- Succession plans are established and validated for the most senior executive roles in the firm.
- A reliable process exists for identifying, assessing, and developing the next generation of leaders in critical areas of the firm.
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Retention
- Comprehensive retention strategies are in place for critical executive and technical talent, as well as for identified future leaders.
“In a recent worldwide study involving over 400 human resources executives, more than three–fourths of participants identify "Building Leadership Talent" as the most significant capability-building challenge facing their organizations.”
Global Human Capital Study