7 trends for talent leadership in 2014
Every year, leading research and advisory firm Bersin by Deloitte publishes its predictions for the ever-changing world of HR and talent management.
We’ve gone through the 2014 predictions and highlighted seven trends set to have significant impact on how you recruit and manage talent today.
1. Continuous learning replaces training
To build a pipeline of talent in a skills-short market, companies will need to focus on the continuous development of their employees. Some of the time, especially in a fast-paced market, developing from within can be quicker and more cost-effective than acquiring externally. This move to an integrated, continuous learning model will see traditional L&D methods replaced by innovative workforce capability development programs, designed to constantly develop employee skills to meet critical business needs.
2. Performance reviews are old news
Appraisal and evaluation programs will be re-imagined to focus on coaching, development and recognition. The idea in a skills-short environment is to have every employee performing at the highest level, knowing how they are performing at any time and ensuring they are fully engaged throughout the process.
3. Engagement is everything
We talk a lot about engagement – and for good reason. Engagement plays a massive part in the retention of top talent. With employee engagement so critical to business success, it is no longer enough to simply survey staff once a year; organisations must monitor engagement continuously to make sure their culture, management practices, benefits and development opportunities provide talent with what they need.
4. Internal mobility is a priority
It’s highly likely that the best employees, with the best skill set for your business, are already working for you. To keep these employees from finding career progression opportunities elsewhere, facilitating a structured, well-communicated internal mobility program will become essential. In today’s highly-competitive job market, you need to get to your own talented employees, before someone else does.
5. The HR function gets a makeover
With so much rapid change impacting talent management, it follows that the HR function itself has to change. The best-performing organisations will invest in HR skills development, and ensure HR leaders and teams become highly proficient, innovative professionals, fully-equipped to navigate the convergence of technology, data and intelligence that makes up the world of talent management, today.
6. Talent acquisition will continue to challenge
The talent acquisition market is ever-evolving, influenced by key drivers including social recruiting, analytics, and of course, everyone’s favourite in 2014, big data. The ability to attract top talent in an increasingly competitive environment requires a comprehensive, integrated strategy that understands not only the talent market itself, but how to use those tools available to HR to access the market and find top talent, first.
7. Talent analytics takes centre stage
The rise of talent analytics has the potential to permanently change recruitment, as we know it. In this new world, data-driven insights are used to inform people decisions, replacing gut-feel and instinct with verifiable and unbiased data as the guide. In 2014, more and more organisations are turning to this data to make informed decisions, leveraging the insights into productivity and performance that analytics can uncover.
In every HR trend identified by Bersin, talent sits squarely at the centre. To find, develop, retain and understand this talent, leaders must embrace change, keeping talent management at the centre of their own HR strategy.