Magazine article Workforce Management

Unified Talent Management: A Single View of Talent

Magazine article Workforce Management

Unified Talent Management: A Single View of Talent

Article excerpt


In a recent Workforce Management article, Curt Coffman at the Gallup Organization reported that 55 percent of workers were not engaged, 1 7 percent were actively disengaged, and 28 percent were engaged. Several studies indicate that actively disengaged employees represent a 30% productivity loss.

The Society for Human Resource Management (SHRM) found that lack of retention can cost 150% of salary for middle level employees and almost 400% for specialized employees.

And Jim Collins, author of Good to Great, talks about importance of talent acquisition and alignment in building great companies that generate above average shareholder return:

"People are not your most important asset. The right people are. Get the right people on the bus, the wrong people off the bus, and the right people in the right seats."

Engagement, retention and alignment of key talent, and powering business performance with talent are key priorities in any economy. But without clear visibility and a single view of your talent, how do you know if you have the right people in the right seats to help drive your company's strategy forward?

Visibility and a Single View of Talent

Without clear visibility into talent and competencies, it is very challenging for companies to move their talent strategies forward. Many best in class companies have clearly acknowledged that greater visibility into talent - when coupled with employee acquisition, alignment, engagement, and retention - enables them to achieve greater competitive advantage and business agility. So why do companies fail to engage and retain their key talent? The answer lies in lack of talent visibility and talent management silos.

Pitfalls of Talent Management Silos

Many companies do not have visibility and a single view of talent since the recruiting, performance management, compensation, learning, and succession planning activities are separated by organizational boundaries. Talent data is spread across multiple application silos and multiple data sources.

Questions to Ask

Clearly, lack of visibility leads to poor insights and increases flight risk for top performers, talent shortages at critical positions, and loss of productivity due to lack of engagement. Start by asking some simple questions:

* Are all your employees working on activities that move your strategy forward? Do you have clear alignment of organizational objectives and individual goals?

* Can you align your organizational and employee goals in real time to adapt to business changes? Or do you wait until next performance review?

* During onboarding, goal planning, and development planning of new hires, do you have the new hire's competency profile visible immediately or do you wait weeks or months to discover gaps and strengths? …

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