Executives are commencement to understand the significance of a more conscious approach to the management of people and talent, according to structure an integrated talent management strategy, a new briefing paper from the Economist Intelligence Unit and sponsored by Oracle. Based on a set of in-depth case studies of global organizations in technology, consulting, banking, transaction and government, the study describes some of the best practices in attracting, retaining and developing workforce who can make a positive impact on an organization.
Added Gretchen Alarcon, Vice President HCM Product Strategy, Oracle, "Organizations are learning that when they track, evaluate and improve performance across a carefully chosen set of talent management criteria and with a holistic strategy, they can drive improvement across a broad spectrum of strategic business objectives."
"Businesses are developing enterprise-wide processes to ensure that the right employees and the right performance incentives are in place to execute strategy," says Dan Armstrong, the editor of the report. Consequently, companies are asking for their HR departments to contribute more to the running of the company. Says Mr Armstrong: "Firms can outsource those parts of HR dealing with administration and support. What remains is more strategic."
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