Re:locate magazine | Recruitment | UK business fails to 'walk the talk' on talent management

British business is failing to make the most of its star talent – with less than half of UK businesses implementing talent development programmes (49%), according to research by recruitment outsourcing specialist Capital Consulting and Cranfield School of Management.

While 60% of the businesses surveyed say talent management – the strategies and practices needed to define, identify, develop, attract and retain those deemed to have skills valuable to an organisation – is essential to a businesses bottom line, only 41% of businesses are strategically managing their star talent. This reveals a major ‘disconnect’ between what senior managers say about talent management and what’s actually in place in their organisations.

Those surveyed say that various factors are holding back implementation of talent management strategies; chief among them a lack of financial investment (51%) and insufficient senior management support (40%).

Jeremy Tipper, Group Managing Director of Capital Consulting, reflects on the report: “Businesses are becoming increasingly aware of the growing importance of attracting the best available talent from the marketplace, but often fall short when it comes to following through on development, retention and allowing talented people to reach their potential.”

www.cranfield.ac.uk

See autumn 2007 issue for how talent management, recruitment and immigration complete the inspirational relocation picture.

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