We have worked with many organisations over the last 20 years, all of which struggled to identify why their talent strategies have not delivered the expected results.
Today, in our monthly webinar, Dr Amanda Potter shared nine reasons why many talent strategies fail, and more importantly how to avoid this failure and implement effective strategies within your organisation. Here are our top three reasons why talent strategies fail, starting at the top of the list….
1) Many organisations do not start with a clear definition of Talent
Our research found talent strategies are not completely understood by the individuals within the organisation. For example, in our research 68% of Leaders said their organisation had a talent strategy but a total of 32% said they do not know or understand what it was!
Organisations need a clear definition of what Talent means within their organisation, in order to develop an effective Talent Management Strategy for the future. Start with the basics!
2) Talent strategies do not reflect organisational differentiators
We found many talent strategies did not show any differences between an organisation and its competitors. When we asked clients “Does your current Talent Model show you are different from your competitors?” 72% of organisations said No!
In addition, very few of the Business Leaders (27%) believed their talent strategy demonstrates how they are different and unique from their competitors.
Talent strategies present a unique opportunity for organisations to differentiate themselves from their competitors, and provide a competitive edge when presenting themselves as the employer of choice.
3) Talent strategies are not communicated effectively
When implementing a talent strategy, we found that only 20% of organisations openly communicate their talent strategy throughout the organisation. The talent strategies are not consistently communicated across the whole organisation and as a result, the strategy is not embedded in the employee mind-set.
To find out how to successfully implement a robust talent strategy, contact the Zircon office on 0208 645 0222 for a recording of the webinar, or a copy of the slides used.
Written by Chloe Waller, Business Psychologist