Chief Learning Officer - March 2008 - (Page 58)

business intelligence Talent Management: Succession Planning Gains Momentum Cushing Anderson Succession planning and learning are part of the same talent family. Because of their close relationship, more organizations should — and probably will — explore ways to integrate and automate these key functions. Talent management is the process of managing the development and deployment of employees from recruitment to retirement. Talent management activities cover processes that attract, develop and reward employees and include recruiting, competency management, learning and development, performance management, compensation and succession planning. Companies have been using talent management solutions to address the tightening labor market, which will be exacerbated by the retirement of the baby boomers during the next decade. March 2008 In the next three to five years, most companies believe that the impending retirements will cause significant knowledge gaps in at least some areas of their organization. Companies expect most levels to be impacted by the retiring workforce, although middle and senior management will be most affected. Learning Function Most Automated By leveraging the core capabilities of the different talent management functions, organizations can optimize the human capital component to maximize the company’s business. As Figure 3 (see pg. 60) illustrates, a majority of companies have either a manual or an automated process in place for functions such as learning and development, recruiting, compensation and performance. However, approximately 40 percent do not have a formal process in place for competency management and succession planning functions. I www.clomedia.com I Chief Learning Officer 58 Renewed War for Talent Cushing Anderson is the program director of learning services at IDC. He can be reached at editor@clomedia.com. According to the U.S. Department of Labor’s Bureau of Labor Statistics, the unemployment rate has been trending downward for the past 30 years. IDC studies show that more than half of companies experienced a noticeable candidate shortage this year. http://www.clomedia.com

Table of Contents Feed for the Digital Edition of Chief Learning Officer - March 2008

Chief Learning Officer - March 2008 Editor's Letter Table of Contents Imperatives Selling Up, Selling Down Strategies Take Five Learning Solutions The Treasury Board of Saskatchewan: Training the Trainers With Experiential Learning Clo Profile Environment Xerox: Creating a Learning Masterpiece Tactics Capturing the Knowledge of the Workforce Productivity Succession Planning Tips from the U.S. GAO Human Capital Influencing Competency Management Case Study Case Study Business Intelligence Advertisers' Index Editorial Resources In Conclusion

Chief Learning Officer - March 2008

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