Global talent strategies

On the list of the most commonly used phrases, ‘the world is getting smaller’ must be near the top. Fortunately we are not descending into a Lilliputian nightmare but thanks to globalisation and advancements in technology it can often feel as though our colleagues across the globe are now on our doorstep. Organisations are more frequently spreading their nets further to search for and attract the most talented people.

Talent agendas have increasingly adopted a global perspective to resolve recruitment and retention issues; the ageing workforce means that shortly many organisations will be faced with a leadership crisis and gaping holes in succession plans, and so turning to other regions for specialist talent is a viable option. Sue Brooks, Managing Director of talent management and recruitment outsourcing consultancy Ochre House, comments on the enormous demographic pressures in Europe, the Middle East and Africa (EMEA): “In those countries the ageing population means an increasingly expensive issue because for a lot of private practices, salary and reward packages tend to increase incrementally by years. Retiring leaders create a huge drain in talent so there is a real demand for leadership and management skills in the US and EMEA. We have also seen the emerging economies looking to the West for leadership and management in particular to help support growth and there is enormous competition for talent at that level.”

The new decade could see the war for talent take an interesting turn, as although the rapid growth of India and China means that they may well overtake established western economies the flow of individuals is not only one way.

Good talent management strategies are aligned to business goals; they have to be connected to the outcomes that are tied to the business strategy. Of course as business strategies differ from country to country so do the approaches to talent management.

Despite the differences in requirements and challenges, much can be gained from observing the practice of our international neighbours. HR software provider StepStone Solutions is looking forward to a successful year ahead as the demand for talent management is driving growth in its business. Matthew Parker, Group Managing Director, explains some differing talent approaches noted by the company: “Globally we are seeing different prioritisation of what organisations consider urgent. We see much more focus in the UK around talent acquisition – bringing people in to the company using technology to support that. The big focus in mainland China at the moment is how technology can make hiring people more effective. In Singapore the focus is much more on talent management rather than talent acquisition. Increasingly global organisations are genuinely looking to implement talent strategies across the whole of their operations to underpin those with consistent processes as far as you can be consistent. There’s recognition that cultures are different and that things are done in different ways in different places.”

Melissa Gallagher, Client Partner & Project Manager, at HR solutions provider HAD, agrees that in today’s global economy it is vital that organisations operating in different countries share their approaches to talent management: “In doing so, organisations will not only enhance their knowledge of country-specific talent management priorities but also ease the transition for those employees seconding to various locations either as part of their career development or on a project basis. Although various elements of a talent strategy will be tailored to fit the needs of the local organisation, it is important for multinational organisations to have an overarching strategy which is relevant across boarders – in understanding and sharing talent strategies across boarders a comprehensive and relevant approach to managing talent can be created.”

The need to grow and retain talent remains a strategic board imperative and as Brooks explains, broader horizons create deeper talent pools: “The focus of companies at the moment is on retention but in a very targeted and selected way; it’s about understanding that there is a real pressure on some skills and a need to be smart at retaining who you believe is going to be the talent you need for the future while at the same time recognising you need much more mobility in order to be able to bring in new skills for the future.”

Source: The Grapevine

Posted by The Grapevine