Alignment of Talent Management strategies and Global Mobility practices has never been more critical
There is no doubt that planning for future business needs has become more complex. Not only are we navigating unprecedented levels of change and innovation but also the very nature of our workforce is being redefined. Coupled with the increasing demand for global leadership experience and the expectations of our millennial workforce for international assignments, the alignment between our talent management strategies and global mobility practice has never been more critical.
Business leaders openly recognise that despite the tremendous challenges they face in leading for today, they need to look ahead and focus on building organisations that are well positioned to navigate a more complex global marketplace of the future. For many CEO’s and leaders their greatest challenge lies in determining how best to leverage the current global capability and ambitions of their workforce whilst defining future talent requirements.
PWC’s 2016 report The Talent Challenge: Adapting To Growth notes that it is the combination of skills shortages and emerging megatrends (technological development, demographic change and urbanisation) that are keeping CEO’s awake at night. 63% of business leaders cite the availability of skills as a key concern and 41% believe they lack the right capability in their business today to cope with future requirements. As a result 93% recognise the need to change their strategy for attracting and retaining talent but worryingly 61% haven’t yet taken the first step to do so. Whilst most are only too aware that something needs to change it is apparent that many don’t know what that is or how best to go about it.
Building and mapping of global talent pipelines
The building and mapping of global talent pipelines are critical to aligning your business strategy with your people strategy. Not only does it provide you with a clear view of where your current capability and potential lies within your business but it will very quickly provide you with a snapshot of where your emerging gaps are or are most likely to arise. It also helps prioritise spend for supporting the selection, development and most importantly retention of key talent at every phase of the mobility life cycle.
Managing your talent pipeline is a broader and more integrated process than simply planning for successors to key positions. As with all successful business initiatives, it starts with a clear strategy that is well communicated; aligned with business needs and corporate values; and embraced at all levels of the organisation. If people know what the key business initiatives are in the immediate – short-term future they are more likely to proactively self nominate and motivate them towards the goal. They proactively manage their career, build strategic stakeholder relationships and ensure that knowledge and networks are transferred back into the business at the appropriate time.
Underpinning this is robust technology that supports both internal and external development and appointment processes. These tools should support not only the hiring process but also enable the planning and implementation of planning and implementation of the employee talent agenda at all levels of the business.
Six Considerations for building your global talent pipeline for the future marketplace:
- Business Clarity: Ensure that there is real clarity on the strategy, that all executives are both aligned and committed and that it is well communicated throughout the organization.
- Assess: In order to effectively align your business and people strategies you firstly need to have a clear view of:
- ‘Linchpin Roles’: Identify the critical roles that are imperative to your business success. Identify if they are likely to remain key roles, what experience is required and what new roles are likely to emerge.
- Current capability, potential & ambition of the people in your business. Know what tools you need to have to support capability assessments, what conversations need to be had and who is best to lead them.
- Development of Internal Talent: Design a range of talent development options that target specific levels and competencies. Give consideration to training (internal and external); mentoring programs, job rotations, cross-functional project experiences and global or regional assignments.
- Map External Market: Identify who the exceptional performers, thought leaders, disruptors and industry leaders are in the market place. Understand what it is that sees them regarded as such and if they are a potential fit for your organisation.
- Make It Easy: Ensure that your systems, processes and communication supports attraction and retention of high performing talent. Too often organisations fail to capitalise on their talent opportunities due to long winded, complex and confusing processes. This is no more apparent when regional borders are at play.
- Reward: Ensure your top performers are recognised and rewarded as such. This will require more than just financial reward. Expose them to senior management or your board and ensure that they and their international experience is profiled in a genuine manner both within the organisation and to their industry and peers.
Combining an operational leadership and global HR resourcing background, Margot is an experienced business leader, workforce planning specialist, facilitator and executive mentor. Owner and Managing Director of talentinsight Australia Margot is an expert in helping businesses and individuals leverage their experiences, knowledge and networks to increase performance and agility.