You know when the Boston Consulting Group (BCG) identifies Managing Talent as the top business concern for companies worldwide, two things are true:
1. Talent’s a real issue;
2. It’s an issue that will be a revenue driver for BCG moving forward.
Here’s the breakdown from the BCG:
"Managing talent is the most critical human resources (HR) challenge worldwide and will remain at or near the top of executive agendas in every region and industry for the foreseeable future, according to a new global study conducted by The Boston Consulting Group (BCG), the World Federation of Personnel Management Associations (WFPMA), and the Society for Human Resource Management (SHRM). Key findings of the report, "Creating People Advantage: How to Address HR Challenges Worldwide Through 2015," will be presented today at the WFPMA World HR Congress in London.
The study, which is based on a global survey of 4,741 executives in 83 countries and markets, found that managers worldwide also rated improving leadership development and managing work-life balance as urgent priorities. The report provides rankings and analysis of 17 HR challenges in seven major regions of the world and suggests specific actions to address those issues."
The frustrating part for me? I can’t get the definition of what managing talent means in this survey from the top line notes. Hat tip to Alice at the Taleo Blog, for posting the sweet graphic below of the study. I’ve got to hand it to BCG, that’s a nice chart, even for a ground level guy like me.
Take a look and pontificate. I’m guessing that since delivering on recruiting and staffing is not in red, that it’s not a part of how they are defining Talent Management. Works for them, but if you’re on the street, Talent Acquisition better be in your overall talent strategy…