ExecutiveDevelopmentBlog

I came across this recent study by Bersin Associates (a pretty good resource for learning and development and talent management information) documenting the financial impact of effective talent management practices.

Drum roll, please………….

“Companies with Integrated Talent Management Strategies See 26% More Revenue Per Employee and 41% Lower Turnover among High Performers, According to New Bersin & Associates Research.” 

This is a pretty significant result, and came from a sample of 773 HR managers and executives. 

If you dig into the report (or at least the press release, since I am not shelling out $595 for the full report!), development plans were a particularly important indicator of success: 

“Employee development strategies are critical to success. High-quality development planning is one of the practices most highly correlated to reduced turnover and increased revenue per employee. Unfortunately, today this process is very immature. Only about half of respondents widely use development planning and only 8% said plans were effective. ”

If you saw my last post on development planning, you can probably guess that I am smiling.  Without solid development plans, all of the good work done to identify and develop talent falls short. 

I also found it interesting that online systems are increasingly being used to underpin talent management efforts.    Some will say, “it is not about the technology, it is about having good discussions about talent.”  My reponse is that it is hard to have good conversations without good information, and good information means up to date information that is readily available…and that requires a system of some sort to store and manage it.

Filed under: Talent Management, Uncategorized