Nearly every company, regardless of size, practices some form of Talent Management. It may be a loose policy backed up by a few papers and forms or it may be a fully integrated strategy automated by commercial solutions. In either case, companies are striving to get the most out of their employees while retaining those employees who are most valuable to driving the success of the organization. When it comes to Talent Management, these companies are doing the best with what they have and many feel they are doing a good job. Some of these companies really are managing their talent well. But others are not and they are unwilling to admit where their practices fall short.
In a recent study by the ADP Research Institute, a specialized group within ADP that conducts studies on current topics of interest to HR and payroll professionals, HR decision-makers in 600 companies were asked to:
- judge themselves on how well they are doing Talent Management compared to their peers; and
- respond to a series of questions regarding the effectiveness of their Talent Management processes.