Having great talent and succession practises across your business can deliver colleague retention, attract future colleagues and support an increase in overall colleague engagement. Many colleagues cite ‘lack of development and progression’ as a key reason for leaving. It’s a fine balance to create an environment whereby talent isn’t seen as a taboo subject or equally is seen as an elite club. Everyone has talent and your challenge is deciding what you are developing your talent for. Is it for future board appointments, employer branding, improving your engagement, for competitive advantage or simply the right thing to do for your people. To determine great talent your performance management needs to be working well and calibrated to provide consistency. Determining critical roles and people help you build a great talent and succession strategy. Setting out clear expectations of what is expected from a talent pipeline allows greater transparency and trust for all to see. Once you’ve identified where your key talent lies than the bigger challenge comes from the development and retention investment to nurture to fruition for your business. Don’t forget a good talent principle can be to say good-bye at a point in time allowing for breadth of experience before welcoming back at a future point.
How can we help – let us support you to determine the maturity of your talent strategy and we can build from there. If you’re just starting on the journey then let us guide you through some of the latest best practise and build what is right for you.
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