In 2009, take an opportunity for your organisation to invest strategically in talent in order to make relative gains against your competition. Here are the top 5 reasons why NOW more than ever is the time to invest in a Talent Management system.
1. Execute corporate strategy quickly in changing market dynamics - the key to affecting change and executing the company’s strategy is to create and track meaningful goals across and up and down the organisation enabling executives to be nimble in responding to adversity or market opportunity.
2. Pay for performance and compensate more strategically – make your payroll go further by paying on individual performance and for critical roles that drive key business objectives.
3. Retain your best performers – research shows top performers are 5 times more productive than the rest. Create a development roadmap for success to ensure they stick around.
4. Cut costs by pruning wisely – identify and eliminate underperformers through more effective assessments and real-time analytics.
5. Backfill key positions - discover potential talent gaps before they happen so you can take measures to develop bench strength for key positions. Having the right people in the right role at the right time creates highly responsive organisations that can thrive during adversity.
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