If there is one thing to be learned from global business and political developments in 2016, it is surely this: almost anything can happen. From the shock of Brexit to Microsoft’s eyebrow-raising acquisition of LinkedIn (for a sum roughly equivalent to El Salvador’s GDP), few experts could have predicted some of the key deals and outcomes which will have inevitable knock-on effects beyond their immediate stakeholders.
What does this have to do with Talent and People Management? Well, at Hudson we understand that even the most influential Management Boards cannot regulate the main geopolitical and commercial developments taking place around us. The best senior leadership can do is to analyse and assess relative trends before putting into place an overall business strategy for the future. When these seismic shifts do occur, however, there is no guarantee that an organisation will respond, adapt and prosper in the manner it hopes; this is in large part attributable to its employee base. Therefore, given the primacy of an overall business strategy, it follows that a ‘workforce strategy’, defined by an integrated Talent Management system, is vital. At the very least, the substantial statistical variance in employee turnover and engagement between those companies with and without a Talent Management strategy give a firm indication of its benefits.
But back to the shifting world around us. As business needs evolve, successful organisations must grow and innovate to meet them. Assuming the talent has been found and is in place, this innovation relies in large part on retaining talented individuals in a climate where they may use and develop their skills. On top of increasing productivity and organisational effectiveness, the development of new leaders through Talent Management is a significant long-term competitive advantage. All too often, across disciplines, positive – seemingly instinctive - reactions to change are ascribed to raw talent, but natural flair will only get us so far. Ask any professional boxer or stand-up comedian and they will tell you that one‘s ability to stay ahead and adapt to new challenges is more likely the result of dedicated, focused, strategic preparation than a split-second reaction. This is why at Hudson we consistently invest in the research and development of our Talent Management services; so that when our clients face uncertainty, it is a dynamic, engaged workforce that can rise to meet it head-on.