Talent Optimization is the discipline of optimally aligning your business strategy to your people strategy to achieve the best possible business results. So, what really is the business value of being talent-optimized?
Are you prepared for a strategy change?
Your positive business results speak for themselves, and your employees seem engaged and motivated. That’s great, but what if the economic landscape and business pressures change? Are you ready to respond quickly and effectively?
The way businesses operate has altered beyond recognition over the last year. The list of challenges and necessary adaptations is endless: the overnight move to remote working, team changes, financial challenges, a reduction in workforce, employees on furlough, burnout… In a relatively short space of time, many companies had to pivot their business strategy from one of growth and innovation to one addressing basic existential concerns.
So, where exactly does Talent Optimization fit in?
At the heart of every business is its people. They are what keeps the cogs turning. A fundamental and sudden strategy change impacts everyone.
Leaders must find a way to successfully communicate the new direction, take their people with them and keep them engaged. Employees are faced with changes to the work to be done, where it should be done and with whom. Change can be complex for some people. Uncertainty fuels mistrust and ambiguity, results in disengagement and negatively impacts performance.
98% of executives at talent-optimized companies said that their teams continued to work well throughout the pandemic. This figure from the latest State of Talent Optimization Report based on a survey of over 500 executives by The Predictive Index speaks for itself.
Talent Optimization creates more agile and engaged organisations who can react to change quickly and successfully, and here is why.
What Talent Optimization means in a nutshell
Your business context informs your people decisions. It determines the work to be done, who will do the work and how to assemble your teams accordingly. If your business strategy is aligned with your people strategy, your company is naturally people centric. You are invested in your most important asset: your people.
Talent-optimized companies are also adept at using people metrics and analytics. Teams are designed strategically and cohesively, and people are behaviourally matched to their job. A regular pulse check on employee engagement is a given.
Having this objective data at your fingertips at all times takes the guesswork out of all business and people decisions and has a positive impact on engagement and productivity. It certainly makes it easier and quicker to respond to any changes.
The consistent and strategic use of objective people data is at the heart of Talent Optimization. Talent-optimized companies spent much of the past few months using insights from this data to really understand their people, align them with their – often new and changing – goals and keep them engaged. Research shows that Talent Optimization is a definite differentiator for businesses, but this is particularly true in times of change.
The impact of the pandemic continues to be felt. Our clients tell us that challenges around hybrid working, the current talent shortage, skills gaps and the threat of the Great Resignation are very much front of mind for them at this moment in time.
If this is also the case for you, why not schedule an informal chat with one of our PI Certified Talent Optimization Experts to discuss how Talent Optimization – and leveraging people data – can help you to address these issues, and create even more agile organisations?