McDonald’s founder Dave Kroc famously said, “Take care of your people and the business will take care of itself.” Today, developing your people and investing in social capital has never been more important as we see changes hitting organizations at rapid-fire pace. Issues relating to job security have become a central concern as employees fear for the state of their job in a time where turnover has been high, job engagement has been low, and changes in top leadership is ever-present. This is where having an effective talent development program in place is key. As the new VP/consulting services at CUES, I’d like to share some insight into my philosophy on talent development, which I hope brings it back into the foreground.
Like others in the talent development industry, I devote my efforts to helping leaders see the value of boosting their TD efforts and making them a cornerstone of their business. This has become increasingly vital, according to a recent survey done by McKinsey & Company that found that 87% of companies worldwide are aware they have a skills gap or expect to have one in the coming years. As a result, organizations will need strong talent development strategies to stay relevant and competitive.
Furthermore, organizations must learn to pivot, especially in the wake of the COVID-19 pandemic. With that in mind, I think a re-introduction to the overall concept of talent development could be useful as organizations try to lead themselves out of this era of uncertainty and change. Here is a snapshot of what talent development is and what I perceive as the primary benefits of having a strong program.
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