Talent management for success – download the free template now
How strong is your bench?
In the next 8-10 years, 40% of today’s middle and senior business leaders will be at retirement age… so, who is going to be there ready to step into these roles with the required expertise? The answer should be, your bench.
To simply put it, today’s bench equals tomorrow’s leaders. Why? Because who you have on your team now probably has the capacity to lead and grow your business in the future – if you put right talent management strategies in place now to retain, engage and upskill them.
Why are so many young employees dissatisfied?
According to Business Insider Australia, 59% of millennials are actively seeking a new job opportunity. What are the factors making so many young people dissatisfied with their roles and feeling the need to move on?
Unfortunately, there is an epidemic of CEOs and senior leaders saying they want to build a strong business model that drives and fosters their company’s success, but not making this a priority. By not placing enough emphasis on the importance of proper training for rising stars and emerging leaders, you risk losing out on high quality talent.
What makes an emerging leader?
While we say we want leaders, it’s easy to fall into the trap of accepting and even rewarding conformists and role players, and neither of these makes for a great leader. This ends up giving way to disenchanted followers who believe they are reporting to authorities, not leaders. Employees will do what those authorities say but they won’t follow them, and they won’t be engaged to do the work to the best of their ability. A talent management planning template can help you identify who are the true emerging leaders in your organisation.
According to Hubbard, Samuel, Cocks & Heap, authors of, “The First 11 – Winning Organisations in Australia”, 37 of 40 CEOs of Australia’s top 11 organisations were all promoted from within and stayed on average 10 years in their roles. This reflects the high performance of these companies and the effectiveness of a business model that consistently nurtures and engages employees, while building a learning-focussed culture throughout the entire organisation.
You are probably thinking, ‘How do I manage this inevitable transfer of talent and create the strongest business possible for the future?’ The answer is, by starting your talent management process now. Begin by asking yourself these questions:
- Who will lead your organisation into the future?
- Are you looking within to develop your emerging leaders?
- What is your plan to retain your investment in their skills and talent?
Download our one page Talent Management template now and start answering these questions to create your strongest leadership team possible for today, tomorrow and into the future.
Download the Talent Management Template
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