But those that do are much more likely to say they outperform their competitors: 99 percent of respondents reporting very effective talent management say so, compared with 56 percent of all other respondents. Only 5 percent of respondents say their organizations’ talent management has been very effective at improving company performance. Why effective talent management mattersĪccording to the survey responses, there is a significant relationship between talent management-when done well-and organizational performance. The survey results also point to underlying actions that organizations of all stripes can take to cultivate these practices and thereby improve their talent-management strategy and organizational performance. While there is no one-size-fits-all approach to the effective management of human capital, the survey results reveal three common practices that have an outsize impact on the overall effectiveness of talent management as well as organizational performance: rapid allocation of talent, the HR function’s involvement in fostering a positive employee experience, and a strategically minded HR team. The survey also sought to uncover the specific practices that are most predictive of successful talent-management strategy. Have a better chance than other companies of outperforming competitors and, among publicly owned companies, are likelier to outpace their peers’ returns to shareholders. We define an effective talent-management program as one that, according to respondents, has “effectively” or “very effectively” improved the organization’s overall performance. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP.Īccording to respondents, organizations with effective talent-management programs 2 The online survey was in the field from November 14, 2017, to November 28, 2017, and garnered responses from 1,820 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. But the results from a new McKinsey Global Survey confirm the positive effects of talent management on business outcomes. ![]() The value of managing and allocating human capital, however, is less widely known. The allocation of financial capital has long been recognized as a critical driver of an organization’s performance.
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