There’s a new push to develop talent rather than recruit it. Don’t let your company get left behind.
Today’s rapidly changing work environment is forcing up to 90% of global business leaders and HR executives to abandon traditional leadership models to build new ways to develop talent, a survey from Deloitte reveals.
The report covered more than 1,300 organisations in 59 countries, and reveals the new strategies organisations are using to secure leadership, with a global shift towards development rather than recruitment.
This new push to develop talent rather than recruit it comes from a change in corporate culture to enable individuals to accomplish many tasks and challenges which may not be apparent to them prior to joining the company.
Due to the shift to development, emerging markets and HR remain priority areas for many organisations, with less emphasis on recruitment. Eighty-two per cent of business leaders involve HR executives at earlier stages of strategic planning in order to capitalise on new growth opportunities.
“As organisations struggle to fill talent gaps, they have also raised the bar on talent development,” Nicky Wakefield, national human capital consulting leader at Deloitte, said. “Employees are seeking demanding, engaging and meaningful work, and employers are looking for ways to fill positions internally – including leadership and executive roles – as well as manage escalating turnover costs.”
More precise business goals, with rigorous measurement of smart analytics is something Brett Walsh, global human capital leader at Deloitte, understands more organisations are gravitating towards, with old change management tools abandoned.
“We are seeing a shift in both talent development and change initiatives from the ‘art’ of change and learning, towards a ‘science’ of culture change,” Walsh said.
Although economic uncertainty still hangs over the business landscape, organisations are moving towards taking hold of change and turning it into an advantage.
“In a world that is changing rapidly, it is sensible to be in a position to pre-empt and act on the next trend,” Wakefield said.
