Business success graph

Clearly any talent management strategy for a business must encompass a wealth of factors that ebb and flow in importance based on an even greater set of influences and outside factors. This is evident in Deloitte’s latest report on Talent Management, Talent Edge 2020, which we tweeted yesterday, and which holds fascinating findings based on research with hundreds of business executives from around the world.

In terms of a talent management strategy, the biggest insight that I gleaned from this data was that there is no one-size-fits-all plan or strategy for talent management. Building from that, what was really interesting was the differences in the ways that organizations approached talent management.

There’s something to be said for the finding that organizations who consider themselves “world-class” have a different set of priorities for talent management and a stronger focus on long-term talent investments. This is huge—successful organizations at the top of their game (at least in their own minds) approach talent management strategy differently than other organizations.

Of course, this isn’t really surprising; take a look at the Googles of the world—clearly they’re incredible places to work and they’ve got the best and brightest (Google receives over 150,000 resumes a month!).

But how does Google make great hires into transformative employees?

Well…by creating a talent management strategy that ensures innovation is ever-present. Top HR mind Dr. John Sullivan writes in an blog, “Google conducts ‘stand-up’ meetings to propel creativity in a shorter timeframe. They have a 100-foot rule, in which no employee is ever more than 100 feet from free snacks…which means getting up and talking to other employees…and presumably creatively brainstorming as they munch on cookies.”

These are obviously just tactics and part of an encompassing talent management strategy, but the point is clear: companies that get talent management live it as a part of all aspects of their work and brand.

Deloitte’s study echoes this finding, as the top concerns facing executives related to talent management (other than actually finding top talent, which was at the top) were leadership development, retaining employees, delivering training to employees, and finding meaningful and challenging opportunities for employees.

It’s talent management strategy that makes a difference by giving employees a corporate culture that excites and stimulates them, consistently trains them to be better, and develops them into the leaders of tomorrow.

Next up, I’ll reveal what I think is a huge missed opportunity that companies everywhere are losing out on—so stay tuned for the next blog!

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