Arrested Development Planning: How to Stay Ahead in the Talent War

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Evan Rodd, PayScale.com

On the popular FOX TV series, “Arrested Development,” Michael Bluth (played by Jason Bateman) is forced to take over his family’s failing construction company, after his CEO father is placed in jail under accusations of treason. The show follows Bluth through a series of hilarious attempts to build a business out of a staff and family that are beyond ill equipped for the challenge.

Following the Bluth family from one misguided effort to the next leaves one to wonder, what kind of talent management systems are in place in their company? Also, in what world does Portia De Rossi pursue a relationship with David Cross? I suppose that is another story.

Cloud-based systems are becoming more commonplace in all corners of the software market, and talent management software is no exception. Businesses are quickly updating the majority of their HR software, and the market has grown rapidly to well over $4 billion. Of course, software alone cannot take all the credit. Strategic management practices need to be implemented to ensure results, but new developments in technology are making this easier than ever. How can you determine the effectiveness of your management practices? Furthermore, what are the benefits of implementing the newest HR software?

We all know the challenges that arise from corporate talent management — this is where the Bersin & Associates Talent Management Maturity Model steps in as an asset to your front line of defense.

Bersin maturity model
http://www.forbes.com/sites/joshbersin/2012/10/19/how-talent-management-drives-financial-performance/

How do strategic HR programs benefit your bottom line? The findings may surprise you:

  1. Companies with level 4 talent programs generate 26% greater revenue per employee than their peers.
  2. Companies with level 4 talent programs have 40% lower voluntary turnover among high-performers than their peers.
  3. Companies with level 4 talent programs were 28% less likely to downsize during the 2008 recession… and…
  4. Companies with talent management software are likely to be 11% higher on the maturity model.

There are many factors that contribute to the success of your business, but securing top talent remains a key ingredient in driving financial revenue. How you manage talent, define goals, and match the demand for skills with available resources all determine wether or not you prevail in the talent war. HR software alone is not the answer, but rather how you use it to structure your company’s goals, talent program, and development planning. 

Strategic implementations of the HR programs can help you define clear goals, and allows talent to hone their skills and contribute to the success of a thriving company. Software provides a number of different solutions, but it needs to support dynamic management practices to ensure maximum potential. Do you think Michael Bluth could have saved himself a lot of grief if he had only utilized the latest cloud-based systems?

 

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  • Allocate raises. PayScale Insight allows you to allocate raises based on employee performance and labor budget.
  • Attract talent. Price jobs based on your local market and competition.
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