Helping HR Build a Case for Talent Management
by Melisa Joeleo It Consulting ServicesTalent management, encompassing employee retention, is a top priority
for most businesses. Yet the C-level continues to view HR as a cost
centre. This is not helpful at a time when effective talent management
is key to creating the kind of dramatic transformation businesses need
if they are to compete on the global stage.
According to the Bersin Deloitte annual human capital report, ‘Talent trends: HR Technology Disruptions for 2018’,
“Companies are increasingly operating as networks of teams—which puts
team management at the center of organizational design”.
This
flatter, less hierarchical organisational structure is typified by
flexibility, as teams are created as needed from a global talent pool to
respond to and lead the way in global market changes.
To
support this wholesale cultural transformation, Bersin Deloitte
predicts that organisations will seek “technology designed around
teams, individuals, and networks – tools that implement agile talent
practices and also help people be more productive.”
As a result of
the demand for transformational HR technology, the latest Sierra-Cedar
HR systems survey reveals that around half of large and medium sized
business are increasing their spend on HR technology.
There is
no doubt that HR professionals are seeking to source technologies and
tools that will drive team collaboration, agility and productivity.
These range from mobile-enabled cloud-based collaboration platforms
through to videoconferencing and productivity apps, all integrated
within a talent management system that in an ideal world encompasses
learning and development and performance management.
Here are five tips to address the challenges of building a persuasive business case for talent management investment:
1. Quantify the issue.
Hard statistics help and money talks. So, for example, if you are
looking to create a business case for an enhanced performance
management system, gather some hard evidence about how much the
current outdated system is costing the business.
A
straightforward cost comparison is a useful starting point. Multiply the
number of manager hours being spent on performance reviews by the
average manager pay rate, to come up with the current cost of
carrying out performance reviews. If the time managers spend on this
could be halved, then there is a clear cost saving.
Alternatively, you may want managers to spend more time on more
effective performance reviews and the value of this may be measured
by increased employee retention statistics or enhance customer
service metrics.
2. Address current, specific business issues. The business case for investment in talent management solutions
should not stop at providing value for money in performance management
or training, for example. Outcomes should be clearly mapped against
current business pain points.
If the organisation is
targeting moving into new territories, be prepared to show how the
talent management solution will help with this, by providing a talent pool of employees
with the skills ready to move into that location. It is worth
tailoring your pitch differently to appeal to individual members of
the board.
The CEO will want to hear that you can get sales
staff up to speed quickly, ready to take on a new territory or market
sector, while the CTO will be interested in hearing that the proposed
new learning platform will swallow up less IT support time.
3. Get the finance guys on side.
Map out the shared competencies HR has with finance and find the
common ground both roles serve in the organisation despite conventional
thinking about the ‘people side’ versus ‘numbers side’ of the
business.
Work with finance to understand the full extent to which your talent initiatives will impact the business.
4. Acknowledge stumbling blocks.
Anticipating objections and preparing to address them is the first
rule of successful selling – and that applies to selling your business
case to the C-Suite. It is a good idea to be realistic about problems
you are likely to encounter and consider how best to address these
at the outset.
At the same time, indicate clearly the likely
repercussions of not taking action and of failing to invest in
talent management. These issues might range from skill shortages to
compliance failures.
5. Get to the point.
Condense your talent management investment proposal into two or three
sentences. Senior executives will expect your elevator pitch to be
backed with detail and research, but their time is limited and
getting them onside quickly is important.
A compelling proposition
The
numbers are compelling; companies excelling in talent management can
increase earnings by nearly 15%, according to research by the Hackett
Group. However, HR will be in a better position to deliver a strong
business case for investment in talent management if it is already
operating as a strategic partner of the C level.
Ahead of going
to the board with a request for funding, it is a good idea to build a
relationship based on providing regular actionable insights to senior
management. HR professionals who operate beyond the confines of the HR
silo, collaborating with other departments from finance to marketing,
will be best placed to cultivate perceptions of the HR function as a
strategic partner.
That way, when it comes to presenting the business case for talent management, HR will be pushing at an open door.
This Article Source is From : http://www.trainingjournal.com/articles/features/helping-hr-build-case-talent-management
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Created on Apr 13th 2018 04:17. Viewed 479 times.