Strategic Talent Management & Workforce Planning

Emerging technologies, rapidly changing business models, and globalization of markets have all increased the demand for top-notch people especially in areas of critical business success. Meanwhile, the aging workforce is leaving many organizations with their critical talent approaching retirement, often with an inadequate supply of younger talent. Strategic workforce planning and talent management has never been more essential.

The Talent Gap

Most large organizations talk about "talent management" as part of their wider strategy. It is a crucial way of securing, developing and motivating people with the right skills and approaches to meet business objectives.

In reality, this does not happen very often. All too often, organizations find that they don't have the right people in place to fill a gap when it appears or they can not retain the individuals they want. Even worse, organizations often don't know how many resources in core competency areas will be required for future business success or if they have the people available who can be developed into these core positions.

Effective Workforce Planning and Talent Management

So what can we done to think and act strategically so that we are prepared to execute on opportunities? It is our belief that the biggest single challenge is achieving genuine "connectedness" between Workforce Planning, Talent Strategy and Business Strategy.

Assumptions

	Historically, talent management strategies and workforce planning have not been linked to company business strategy
	There will soon be a shortage of key personnel in essential functions in a number of businesses
	There is a shortage of tools to help HR leadership to effectively project the longevity of the current workforce
	There is a shortage of tools to support HR leadership in determining who they have who could fulfill those essential roles and what is required to develop them in an accelerated fashion
	There is a shortage of tools to help HR leadership determine, measure and prioritize what is needed to fulfill the impending talent gap in core competency areas
	There are inadequate strategies to make the above actionable

Gaps

	Supply and demand equation based on validation of assumptions above
	Strategy and model to bring company policies in alignment with HR strategy that is aligned with business strategy. This is especially true in terms of revising policies to attract members of the aging workforce who possess some of the skills and core competencies essential for future success
	Revised performance management system
	Inadequate, predictive HR data
	Design for employee development program to maximize resource alignment and utilization based on strategy and revised policies

What is Needed

	A strategy that links and aligns to the business strategy of the organization:
	Workforce planning Succession management Sourcing and recruiting Developing and deploying talent Engaging/rewarding and retaining top talent Performance management Predictive data

A model to make the strategy actionable that is:

Strategic and linked to the marketplace, long-term and the experience economy	Interpersonal in terms of successfully working with others in a variety of settings and having maximum impact on others
Technical and functional in terms of knowing business functions and competencies that are essential for business success	Intrapersonal in terms of possessing resilience and the capacity to learn skills in new and ever changing situations

      And that leads to new policies and practices.