The term “Talent Management” has been around for quite some time now, with many different definitions. Elements usually considered in the “Talent life Cycle” are recruitment, competency related performance management systems, talent reviews, training and exit interviews. Organisations are now recognising that in the current business climate, they must find better ways to accomplish a higher return from their talent management strategies.
As is the case of any other investment, leveraging the investment made in people to maximum effect is critical. Accomplishing this goal is now viewed as an integral part of delivering a long term business strategy. The goal is “Talent Optimisation” and it’s not just a HR issue, it’s for the whole leadership team.
Breakthroughs in Talent Optimisation
We work in partnership with the Metrus Group to assist our clients achieve talent optimisation. Founded in New Jersey U.S.A. in 1988 they are global leaders in Talent Management Strategies. Over the past 5 -6 years they have developed ground - breaking approaches to help organisations, across all sectors grow value by measuring and optimising the return they get from their people. Their practical evidence - based solutions are built on leading edge research and deliver results.
The Metrus Group approach is built on the following basic principles:
- Every business wants to build shareholder or Stakeholder Equity – to grow the value of the Organisation
- A key underpinning of this is Customer Equity - the value derived from acquiring and growing customers. This includes the relationship value, brand equity and product/service value
- At the heart of the business this value is grown through the human resources – which is called People Equity
Understanding interactions is crucial
Frequently, the connection between people investment initiatives and business outcomes is unclear. A challenge in trying to achieve talent optimisation is coordinating and communicating across the different stages of the talent life cycle. Another difficulty is dealing with the complexity of the issue, as the talent system is connected to many facets of the organisation. You need a focused and efficient way of navigating through this complex web in order to understand the drivers and isolate the items that are relevant to talent optimisation. This will enable you to measure the specific areas that matter and then take the appropriate action that will yield the best R.O.I.