TM - August 2007 - (Page 46) dashboard by Josh Bersin Career Planning: The Time for Pinball Has Passed Over the last two years, Bersin & Associates has conducted research into all aspects of corporate talent management. In addition to identifying and analyzing market trends, we’ve studied the business impact of a wide range of talent-related processes. Among the processes with greatest business impact are those related to career planning. In fact, of 62 talent processes examined, performance and competency management and coaching — fundamental elements of any successful career-planning strategy — top the list in terms of business value. But just as compelling as the quantifiable data that support the importance of career planning are the best practices we discovered during our extensive interview process. We found companies that have adopted a strategic approach to career planning see significant business results. Organizations that take the long view (that is, recognize the need to develop and cultivate employee talent over years) are winning the war for talent. The Nature of the T alent Shortage percent of organizations have severe shortages in midlevel managers, 48 percent in technical professionals, 44 percent in director-level managers and 39 percent in sales and service personnel. We estimate that by 2012, the shortage of skilled workers in U.S. corporations will exceed 10 million. These statistics do not reflect a shortage of available workers — they reflect the scarcity of skilled workers. To address this talent shortage, many companies fine-tune their recruiting processes and incorporate sophisticated analytics to help them target a shrinking pool of available talent. Some organizations, such as Raytheon and the North Shore Healthcare System, work closely with colleges and universities on programs that will help prepare graduates with the skills needed to enter the workforce. Such tactics can help get talent through the door, but the best companies invest significant effort to construct career paths that keep employees inter- Let us first set the stage. Our research indicates global corporations report universal talent shortages: 53 46 August 2007 talent management magazine www.TalentMgt.com http://www.TalentMgt.com
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.