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UK business failing to walk the talk on talent management

By TJ (21-06-2007)
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Learning and Development News - UK business failing to walk the talk on talent management

British business is failing to make the most of its star talent – with less than half of UK businesses implementing talent development programmes (49%), according to research from recruitment outsourcing specialist Capital Consulting and Cranfield School of Management.

While 60 per cent of the businesses surveyed say talent management – the strategies and practices needed to define, identify, develop, attract and retain those deemed to have skills valuable to an organisation – is essential to a businesses bottom line, only  41 per cent of businesses are strategically managing their star talent.  This reveals a major ‘disconnect’ between what senior managers say about talent management and what’s actually in place in their organisations. 

Those surveyed say that various factors are holding back implementation of talent management strategies; chief among them a lack of financial investment (51 per cent) and insufficient senior management support (40 per cent). 

Even those who practice what they preach come up short in the Report: less than half (47 per cent) of organisations have published their talent management strategy internally, one in five does not link the strategy to their business plan, and just 15 per cent measure return on investment.  Innovation is also in short supply, with the likes of sabbaticals and overseas assignments taking a back seat to conventional courses and on-the-job training as methods for developing future leaders.

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