NEW STUDY RELEASED BY HCI AND LEE HECHT HARRISON ILLUSTRATES THE ROI OF PRIORITIZING TALENT MOBILITY IN TALENT MANAGEMENT
HCI and Lee Hecht Harrison Provide Behavioral Process for Implementing and Capitalizing on Talent Mobility Initiatives
BROOKLYN, NY – July 24, 2013 – The Human Capital Institute (HCI) and Lee Hecht Harrison (LHH) have finalized the results of a research study conducted in the spring of 2013, concerning the current concepts, challenges and practices of Talent Mobility. LHH presented its findings at HCI’s 2013 Global Talent Management Summit at the Conrad New York on July 22. A webcast detailing the research findings will air on www.hci.org July 31st.
One of the largest obstacles facing implementation of Talent Mobility is an evolving definition of what the term means today. The study emerged with a refined definition that captures emerging organizational priorities: Talent Mobility is an integrated talent management process supporting talent movement that hinges on an organization’s ability to effectively understand, develop and deploy talent in response to business needs. The results, culled from 435 surveys completed by HCI members and LHH clients, found that organizations and leaders must plan and implement three distinct behavioral processes in order to achieve successful Talent Mobility:
- Understand an organization’s current talent and needs
- Strategically develop that talent
- Effectively deploy that talent
The research found that some businesses have not adopted any of the behaviors related to talent mobility, but other organizations are positioning themselves for success by mastering one or two of these processes; and still others are fully dedicated to effective Talent Mobility and reaping bottom-line results.
Some of the results of this study are as follows:
- Only 41% of employee respondents are well informed about opportunities for lateral mobility within their firms, and even fewer report having transparency around advancement opportunities in their organization.
- 76% of respondent organizations are not giving employees the information or resources they need to improve their skills.
- Of those respondent organizations that practice all three of the Talent Mobility behaviors outlined above, 81% report on or above target revenue growth rates, compared with only 68% of other organizations.
- Organizations that do not practice any of the behaviors associated with Talent Mobility are nearly 30x more likely to take a reactive approach to talent, characterized by a failure to identify future talent needs, a weak leadership pipeline, and filling organizational roles only when they are vacated.
- Larger organizations and organizations within the industries of Finance/Banking, Manufacturing/Construction, and Chemicals are most strongly correlated with taking a proactive approach to Talent Mobility.
- More than 60% of respondent organizations track internal talent movements, and of those, nearly 4 out of 10 are able to fill at least half of open roles with internal talent.
- The greatest challenges facing Talent Mobility in respondent organizations is a lack of a strategic approach to identify future talent needs and a lack of prioritization of Talent Mobility by organizations and leaders
By illustrating today’s Talent Mobility landscape, highlighting common behaviors and practices, and identifying key areas for improvement, this report hopes to provide insight into how organizations of all sizes can implement Talent Mobility in a proactive and productive manner.
To access the research report, which is now available for download, please visit http://bit.ly/settalentinmotion.
Accompanying this report is a webcast on July 31 that will explore the research findings and provide steps organizations and leaders can take to support robust a Talent Mobility program. To register for HCI’s webcast presenting these findings, please visit http://www.hci.org/lib/leveraging-talent-mobility.
About Lee Hecht Harrison (LHH)
With over 270 offices worldwide, Lee Hecht Harrison is the global talent development leader in connecting people to jobs and helping individuals improve performance. LHH assists organizations in supporting restructuring efforts, developing leaders at all levels, engaging and retaining critical talent, and maintaining productivity through change.
Lee Hecht Harrison is a part of Adecco Group, the world leader in workforce solutions with over 6,000 offices in over 70 countries and territories around the world. For more information, please visit www.lhh.com
About do not use - Human Capital Institute (HCI)
HCI is the global association for strategic talent management and new economy leadership, and a clearinghouse for best practices and new ideas. Our network of expert practitioners, Fortune 1000 and Global 2000 corporations, government agencies, global consultants and business schools contribute a stream of constantly evolving information, the best of which is organized, analyzed and shared with members through HCI communities, research, education and events. For more information, please visit www.hci.org.