British employers need to implement effective talent management systems (TM systems) in order to create a more productive workforce, according to new research.
The study, compiled by the Chartered Management Institute and Ashridge Business School, interviewed 1500 people and found that almost 85% of individuals want to be considered as ‘talent’ or ‘high potential’ by their employer.
However, research also found that only half of UK employers have a TM system in place, with 35% of respondents saying that they were unaware of their company having any such system set up.
“Even where talent management systems are in place, many employers fail to use them to drive performance and competitiveness,” warned Mary Chapman, chief executive at the Chartered Management Institute.
“If UK organisations are to succeed in a global environment, talent management systems should be aligned with business strategy. Only then will the right talent be identified and nurtured to match the long term growth plans of an organisation,” she added.
The report went on to identify potential pitfalls for employers when it came to identifying and encouraging talented individuals. These included a sense of confusion between definitions of ‘performance’ and ‘talent’, with less than a third of respondents expressing confidence that their appraisal system actively identified high achievers.
An effective TM system was also suggested as a potential source of growth, with almost 35% of respondents believing that it could be instrumental in uncovering ‘future leadership potential.’
© Crimson Business Ltd. 2007
