This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Most Organizations Fall Short At Managing Talent, According To Korn/Ferry Survey

Stocks in this article: KFY

LOS ANGELES, Sept. 6, 2012 /PRNewswire/ -- As the still-struggling world economy forces them to do more with less, only one third of organizations manage their talent effectively, according to a survey of global leaders by the Korn/Ferry Institute. 

What is hampering talent development?  Three-quarters of the respondents felt their organizations lacked the appropriate levels of budget, staff and skills necessary to manage their talent effectively. Further, only 29 percent of respondents said their organizations have the technology to integrate their talent data.

In response to the survey findings: "It's clear that organizations  have more work to do in the way they manage talent," said Ilene Gochman, Ph.D., Global Leader of Integrated Talent Management at Korn/Ferry.

"Companies must invest in resources to support talent management and to differentiate talent based on well-defined measures of potential and performance. The good news, though, is that most organizations already have the foundational basics in place."

According to the survey, 60 percent of organizations polled have created and implemented clear talent strategies, while fully 71 percent have core competency models in place that articulate and illustrate the skills and traits most valued by these organizations.  Despite such widespread adoption, only 53 percent say that their companies apply their core competency models across the talent-management spectrum in hiring, evaluating, developing and promoting employees.

Just one-third of respondents said their organization's talent processes are anchored in validated assessments, while roughly the same number (32 percent) agreed that metrics and analytics guide their workforce planning. Overall, the survey shows a disconnect between talent strategies and corporate commitment to building and integrating talent management processes that support the business.

In another recent Korn/Ferry survey of executives, the picture of the state of talent management was even bleaker.  Only 35 percent of the respondents said their organizations have communicated talent strategies internally.  In addition, that survey found that while 58 percent of organizations follow core competency models, only 37 percent follow such models in their hiring and promotion decisions.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,800.24 +81.24 0.46%
S&P 500 2,061.39 +8.64 0.42%
NASDAQ 4,713.9990 +12.1320 0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs