Archive for Talent Management

Talent management and succession planning

Is this just more mumbo-jumbo?

On a recent poll on LinkedIn, the question that was asked was “what would make you leave your current job?” – 62% said a new opportunity.

Jobs for life – which were rewarded for loyalty – appear to be a thing of the past. Businesses spend huge sums of money attracting the “best” talent, then do little to develop or retain them. It’s not all about promotions, but enriching roles, broadening them and providing new challenges.

For small businesses this can become a bigger challenge – loyalty becomes the deciding factor when the need for clear talent management and succession planning should be in place. One of the main reasons small businesses fail is that they grow too quickly without the right people in the right roles. Plan carefully and remember whilst loyalty is important and should be rewarded, it’s not the only factor you should consider when choosing the right person to take your business forward.