By: Beth Miller, a Special to Overdrive
People are critical to a company’s success. That’s why talent management is so important for any organization that wants to succeed. Finding, selecting, developing, and retaining the right employees should be one of the top business concerns for any leader.
Top organizations value their employees and know that people today are much more willing to switch companies and jobs than they used to be. Companies must work harder to continue to meet the needs of their employees, or the employees will find somewhere else to work.
Research consistently finds that organizations with a focus on talent management have employees who are more engaged and more satisfied with their jobs and companies overall. And when you have satisfied, engaged workers, your employees are more productive and your company will perform better.
More than half of North American companies are having trouble attracting critical-skill employees, according to the 2011/2012 Towers Watson North American Talent Management and Rewards Survey. At the same time of this shortage in talent, companies are being forced to cut costs, and often employee retention programs are being eliminated or reduced. This can only hurt companies in retaining and attracting talent in the future.
The majority of organizations aren’t doing enough to engage and motivate their employees—only a quarter of employees across six countries believe that their employer provides strong guidance in terms of goal setting, managerial feedback, and career development. So if your organization makes its people a priority, you are sure to see business results.