In a recent survey of 400 organisations:

• 94% believe talented employees improve profits
• 84% believe they have latent talent.

However:

• 77% Have no talent management strategy.

It is our view that the answer to this question lies in the development a talent management strategy to attract develop and retain your talent.

attraction:

• create an employer brand
• ensure recruitment strategy is aligned to business needs
• look for talent at all levels
• hunt for talent all the time – not just to fill jobs
• break the compensation rules if necessary.

development:

• development has to be aligned to the business strategy
• applied to all levels of the organisation
• designed to deliver a supply of key talent for the future
• recognise that 84% of executive development comes from experiential learning and 16% from formal events
• role of coaching and mentoring.

retain:

• create an employer value proposition reflecting the whole experience
• align reward strategy to business needs
• design development experiences that deliver organisational and career needs
• processes need to be transparent with open feedback
• 'tough love'.

For an example of how we've worked with a client in this area, see this story about developing talent.