Talent Pools – Are yours too Shallow?
Have organisations internal talent pools become too shallow?
The world’s leading advisor in business strategy and global management consulting firm, the Boston Consulting Group, conducted a global study* into how companies can best adapt their HR practices in volatile times.
BCG identified “Managing Talent” as continuing to be the most critical topic for executives, and ranked as the number one concern in Australia.
A significant finding in relation to managing talent was the conclusion that the key differentiating element in business was people.The study found that 56% cited a critical talent gap for their managers’ successors, because their internal talent pools being too shallow. The study went on to express executive concern around their current leadership succession programs, and the fact that they identified these plans were “…lacking transparent criteria for employee selection.”
(*Creating People Advantage 2010)
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