Talent risk is business risk, yet research by the Institute for Corporate Productivity (i4cp) reveals that less than half of companies have plans in place to address the risks posed by not having access to the talent they need to deliver on their goals.
Learning & development plays a critical role in managing and mitigating talent risk. And enabling talent mobility – the movement of talent within the organization, and not always upward – is an effective way to both develop and retain top talent.
- Effective utilization of learning and development practices (e.g., leaders as teachers, job rotations/talent movement, job shadowing, and individual development plans)
- Core workforce planning practices (e.g., identifying and segmenting critical/strategic job roles)
While retention and engagement are frequently used metrics to gauge success in managing talent risk, metrics related to productivity (especially helping people in new roles become productive faster) as well as knowledge transfer, are measures that link to more effective talent risk management and organizational market performance.
- THE FUTURE IS NOW: Maintain a Healthy Culture Despite Uncertainty - October 8, 2020
- Jay Jamrog’s The Great Disruptor: i4cp Future of Work | Retooling #13 - September 21, 2020
- Retooling Onboarding Ideation During Times of Uncertainty (COVID-19 #9) - July 27, 2020