How can you plug the talent gap? | 17 February 2013
The ground has shifted in talent management over recent years. Faced with the reality of fewer upward promotions, limited pay rises and restricted bonuses, many employers feel as if they are fighting a war with no ammunition.
Lane4 hosted a round table discussion for Business Leaders, Talent Managers and HR Professionals from seven large firms and two British sporting institutions, to explore current talent management challenges, share best practice, and discuss the future of talent management.
Analysis of these discussions revealed a new talent environment and five new talent tactics for succeeding within it.
Whilst companies have been busy surviving the recession, a gap has developed between the wants and expectations of today’s talent and what many employers currently offer. New approaches are needed if we are to stop these cracks from becoming chasms. We need to re-discover what work really means for our talent; the constraints of new talent environment require us to challenge some core assumptions. Whilst money is important, it is meaningful and challenging work that really drives performance. We need to identify new ways to reward and motivate talent, using freedom-related work values like accountability and autonomy. And no matter how challenging the economic limate, we must be brave enough to take risks on people and provide stretch opportunities.
So what are the new talent tactics required to compete in this changed environment?
Download the Talent Tactics white paper on the right.