Only 11% of Canada’s leading organizations have a fully implemented talent management strategy, according to the results of a recent survey conducted by talent consulting firm Right Management.
The poll found little consensus concerning workplace talent management strategies. Of 91 companies surveyed, 26% indicated that they have a strategy in place but face challenges with its implementation. Similarly, 7% reported having a strategy but described it as merely a statement of objectives and/or philosophy. Nearly half (46%) of the respondents reported that their organization has a number of separate HR processes that are not integrated as a true talent management strategy. Ten percent admit having no strategy.
“While 10% of organizations have no talent management strategy at all, it is of equal concern that 79% of organizations face many obstacles preventing them from implementing a talent management strategy,” said Owen J. Sullivan, CEO of Right Management. “There is a need for companies to commit to a systemic effort to assess and align their talent management strategies in the context of their business strategies and build a pipeline of necessary talent required to succeed. The findings suggest that organizations of all types are struggling with how to address the critical challenge of attracting, developing and retaining the necessary talent required to meet and execute their business strategy.”
Asked about the greatest single obstacle preventing their organization from implementing a talent management strategy, 18% of respondents cited a lack of clarity or focus around talent management, while 16% pointed to insufficient financial and/or logistical resources.
“The lack of clarity and focus suggests that organizations have yet to spend time developing the real business case for a talent management strategy,” said Sullivan. “A disciplined process is needed that reveals the actual and quantifiable risks and trade-offs associated with having or not having a strategy.”
Sullivan said an inclusive strategy should integrate recruitment, assessment, training and development, retention and leadership programs to align these activities with the organization’s business objectives.