Talent Development: Has Your Organization Dropped the Ball?
By Kristen Leverone on November 21, 2013
Successful organizations recognize the importance of having a prepared workforce ready to meet evolving needs. But it seems many others have dropped the ball when it comes to developing their employees. In a recent LHH online survey, 65 percent of employees report that their organizations rarely or never provide career planning or development to help prepare them for their current – or future – roles. Only 16 percent of respondents indicate they nearly always or frequently receive the development they need.
Career planning and development play a key role in ensuring an organization can fill talent requirements and hit financial targets. As noted in the groundbreaking LHH/HCI research report, “Set Talent in Motion: Achieving Organizational Success with Talent Mobility,” organizations that mobilize their workforce – effectively understanding, developing and deploying talent in response to business needs – are 12% more likely to report revenue growth above target levels, a statistic that demonstrates a clear return on investment for businesses that prioritize this practice.
Organizations that develop their talent do so by providing and prioritizing opportunities for them to gain experience and increase skills, while holding managers accountable for developing employees. Here’s a checklist to see how your organization measures up in the area of employee development:
- Managers are responsible and held accountable for building and developing talent.
- Organizations use career planning processes or platforms.
- Opportunities for stretch assignments are offered/available.
- Coaching is offered/available.
- Internal networking is offered/available.
- Job search/skill development is offered if/when downsizing occurs.
Companies must have insight into their talent needs and provide development opportunities if they are to remain competitive and grow. Are your employees ready to move into new roles as business needs change? Take our Talent Mobility Diagnostic to learn how your organization is performing as a talent mobilizer and uncover the keys to effective – and sustainable – talent development.
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