Talent Management - July 2008 - (Page 45)

ADVERTISEMENT FIGURE F: Ability to Attract, Motivate and Retain Top Talent a Top-Five Priority for Organizations’ Senior Executives by Industry % of respondents 11% 28% 24% 25% 27% 27% 29% 32% 33% 34% 49% 72% 89% 76% 75% 73% 73% 71% 68% 67% 66% 51% 74% 26% No, it’s not a top-five priority Yes, it’s a top-five priority Av ces era Wh (no ge ole nco sal mp e/r Ma ute eta nuf r) il/d act istr uri ibu ng Me tio Ban (no dic n kin al/d nco Co g/fi ent mp mp nan al/h ute ute cia r) eal rm l/ac th anu cou car fac e/p nti tur ng har ing ma (ha Go ceu rdw ver tica nm are l ent /so ftw (fe der are al/s ) Tra tat e/lo nsp ort cal ) atio n/u tilit ies Ins ura Ed nce uca /re tio al e n sta te/ leg al N=548 Bu sin ess s erv i It depends greatly on whether or not the ability to attract, motivate and retain top talent is a top priority for the organization. As seen in Figure F, 72 percent of senior executives, on average, believe talent management is a top-ﬁve organizational priority. This belief increases talent management professionals’ ability to deﬁne and drive a talent management strategy, whether it be broadly or narrowly deﬁned and executed within the organization. In looking at talent management strategy-to-goals alignment, only 22 percent of organizations reported complete alignment of the talent management strategy with the goals of the organization. The majority, 61 percent, reported only partial alignment of talent strategy and organizational goals. Lack of alignment is a cause for concern as more and more executives understand that people, not systems or assets, are the key reason for any organization’s future success. In drilling down on what drives talent management investments today, the much talked about leadership gap is the most common reason cited for increased investment by organizations. In 2008, organizations across all sizes have a planned median talent management spend of $375,000 and planned median human resources function spend of $3 million. In reviewing whether organizations plan to increase, decrease or keep human resources function and talent management investments the same in 2008, slightly more than one-third, or 36 percent, plan to either increase or signiﬁcantly increase their human resources function investments. In comparison, 32 percent of organizations plan to either increase or signiﬁcantly increase their talent management investments. ■ The complete version of the “Talent Management State of the Industry Report 2008” is now available for the special price of $495. For more information or to order your copy, visit www.talentmgt.com/report. Ot her http://www.talentmgt.com/report

Table of Contents Feed for the Digital Edition of Talent Management - July 2008

Talent Management - July 2008 Editor’s Letter Human Performance Leading Edge Learning Connections Guest Editorial Passive Candidate Recruiting: Evolving with a Changing Workforce How Do They Feel? Sec Regulations and Executive Compensation Performance Management: A Retail Perspective Train the Non-Trainer Management-Go-Round: Developing Future Leaders Netflix Creates Its Own Script for Talent Management Intuit Spotlights Strategic Importance of Global Employee Recognition Make HR a Profit Center: Automate Technology to Gather Tax Credit Data Offshoring and the Impact on Talent Management Advertisers’ Index Editorial Resources Full Potential

Talent Management - July 2008

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