Why transformation is dominant and the importance of talent
Transformation is dominating HR thinking. There is plenty of research around, including our recently published Transformation through Talent report, which shows an accelerating and restless search for developing transformative thinking and actions within organisations, both in the UK and beyond.
Here in the UK, it is clear that all aspects of talent strategy and practice need to be improved radically to underpin the rapid transformation of people and business structures. Mercer’s Global Talent Trends 2019 report, for example, shows that nearly three-quarters (73%) of executives worldwide predict significant disruption in the next three years – up from barely a quarter (26%) in 2018. The Mercer research shows that high-growth companies are four times more likely to have an integrated people strategy in place. In turn, the most important part of any people strategy for the business is the way it aligns its talent.
Here at the Top Employers Institute, we know that our participants are turning good intentions into great business results through well-thought through talent strategies. Strategies are one thing, though the key is to make objectives translate to outcomes. Here the evidence is encouraging. For example, there is a clear link between business and talent strategies among over nine in ten (93%) of our UK Top Employers, a significant increase from 81% in 2015. And managing “cultural and organisational change” is rising up the agenda, to 4th from 10th only 4 years ago, clearly showing the imperative for Transformation through Talent.
The way organisations manage talent in a changing world is crucial to their successful transformation. Those that set the bar high in attracting developing and retaining talent at all levels can only inspire other businesses to do the same.