Reviewing How To Create A Talent Plan
Posted on in Talent Strategy
A few weeks ago, we announced our talent planning blog series designed to guide growing businesses through the process of creating a winning talent strategy.
As a recap, we discussed why developing a strategy that creates engagement across the talent continuum is your #1 business imperative. In this post, we defined the talent continuum and described how effective execution of each pillar results in a best-in-class talent strategy that is aligned to your business strategy and enables growth.
We discussed the business case for creating a talent strategy and examined Pillar #1, Talent Planning, in the post Be Advised: This Key Element is Missing From Your Business Strategy.
Many were inspired to take a different approach to talent planning this year, but weren’t sure where to start, so we provided a step by step framework in our Talent Planning Guide, as well as shared 7 Best Practices When Creating a Talent Plan. This got the conversations rolling and we answered some great FAQs from the Field.
For those readers who are still skeptical, we’ll leave you with this.
Talent planning is one of the biggest deficiencies in most business strategies, regardless of the size of the company. We know this not only from the work we do with our clients, but also through evaluating years of research.
In fact, a Corporate Executive Board study showed that “while a majority of organizations (70%) conduct some sort of annual staff planning process, only 10% have a process for identifying and responding to strategic talent gaps, thereby failing to address the talent challenges most critical to the organization’s long-term strategy.” Your business strategy is your talent strategy.
So what’s next? Pillar #2 of creating a talent strategy is “Attract.” Stay tuned as we reveal our “Talent Magnet Blueprint” which will enable you to focus your time, effort and resources on identifying and attracting the critical resources you need to fulfill your talent plan and fuel business growth.
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