MANAGEMENT: Growing Organisational Talent
Recent Western Cape Business News
With innovative new strategies needed to attract, retain and develop top talent, the UCT Graduate School of Business is launching a short course specifically geared towards helping organisations face their talent management challenges head on and become exceptional employers of choice.
The new course, called Growing Organisational Talent, runs from 8 – 9 June and is a timely offering as new research has revealed that talent management becomes more, not less, important in an economic downturn and that neglecting talent could leave organisations at a major disadvantage in the current economic climate and beyond.
According to a recent study conducted in November 2008 by the Chartered Institute of Personnel and Development (CIPD), many firms are using the downturn as an opportunity to review current systems, think creatively about doing things differently when resources are tight and prioritise specific aspects of talent management, such as the retention of high-performers. Over half (55%) of the organisations surveyed are developing more talent in-house.
“A positive effect of the wider economic uncertainty is a move by some to place even greater importance on talent management strategies. Many believe this will push them ahead of their competitors when the economy recovers and are holding on to a long-term view of the benefits a strategic approach can bring to their business,” said the report.
Christof Appel, Director of the Growing Organisational Talent course, said that the findings shows the important need for businesses today to align talent management more closely with core business strategy and to renewed focus on attracting, developing and retaining top talent.
“Talented people are the bedrock of success; by definition they are innovators, natural leaders, results-driven and creative. They are thus critical for adapting during tough times and gaining the competitive edge,” said Appel.
Appel, who has consulted on talent management issues for heavyweights like Google, SABMiller, Toyota, Verizon and Anglo American, said that today’s emerging young talent had different needs, beliefs and desires from previous generations and companies needed new approaches to keep their finest.
“Attracting top young talent into a company is not as simple as placing an advert in the newspaper and hoping the best people will see it and apply. Attraction strategies require that a company recognises and develops its ‘employer brand’ and becomes an employer of choice,” said Appel.
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