Effective talent management processes and resources are a must. The right corporate approach to talent can offer huge rewards to a company that is looking to gain a competitive edge and maximize profitability.
Okay, so that probably sounds a little predictable from a company which offers talent management training and software but we believe that the facts speak for themselves.
Here are just a few recent studies that highlight the importance for CEOs and Senior management to embrace the benefits of better talent management:
- Stanford professors O’Reilly and Pfeffer suggested that a change of one standard deviation in an index of human resource management practices could produce increases of $20 000 to $40 000 in stock market value per employee.
- According to McKinsey’s War for Talent studies, companies with strong talent practices generally outperform their peer group, earning 22 percent higher shareholder returns.
- Watson Wyatt, using its human capital index, found that optimized performance management and employee development can grow a company’s value by as much as 30 percent.