Business leaders in the dark over talent

Global business leaders are in the dark when it comes to understanding what talent looks like, a Chartered Psychologist told the Association of Business Psychologists 2012 Conference last week.

Dr Amanda Potter from Zircon Management Consulting Ltd was presenting new research on the lack of common ground between human resources (HR) professionals and Business Leaders when it comes to talent-management strategies.

The research was conducted with 150 senior HR, talent and business leaders from 85 international organisations. The research sought to understand how organisations approach talent management and found that only half have a clear definition of ‘talent’ or a clear talent-management strategy. 

Dr Potter said: “In this economy it is harder than ever to retain Talent and combined with ever reducing budgets, organisations need to ensure they remain competitive.  To achieve this they need to believe that investing in their talent pool is critical to achieving the aspirations of the company.

Organisations need to develop a clear talent management strategy and communicate this consistently to the Business Leaders, who ultimately drive business success. To achieve this challenge, organisations need to prove the financial return of investing in talent to secure funding for the future.”

Dr Potter also discussed the challenge talent management as well as other key findings from her results, including the role of capability models, market drivers and leader resilience. The Association of Business Psychologists 2012 Conference was held at Wyboston Lakes in Bedfordshire.