While businesses must continue to focus on investing in their workforces, today’s talent management reality is impacted by broad factors like the shifting economy and fluctuating job numbers.
Among these multifaceted issues, talent managers are also faced with having to wade through a highly competitive talent pool with significant numbers of qualified workers who are ready for employment – an evident result of the downsizings that have occurred over the past few years.
So, what can talent leaders do to engage new recruits and manage existing talent?
In a recent Talent Management article I wrote with Robert Vulpis, Executive Director of HR, Learning and Development at Morgan Stanley, we summed up three industry trends that talent leaders should be aware of. The first of these trends builds on findings from a recent University of Iowa study: the importance of career pathing.
The study showed that training and development for employees must be coupled with clear possibilities for them to climb the corporate ladder. In the article, Bob and I note that, “organizations that offer structured progression paths are more enticing to millennials who increasingly make up a greater portion of the workforce.” In other words, top graduates want to know how they’ll fit into an organization, and when they can expect to rise through the ranks.
When new, as well as tenured, employees are able to see the path of the career ladder – with each step of the ladder rationalized with increasing experience, training and responsibility – the more likely that company will be to acquire and retain the best talent.
Sharon Daniels is CEO of AchieveGlobal in Tampa, Florida