Three Talent Development Trends to Track for 2017
We track the thinking that the smart people at the Institute for Corporate Productivity (i4cp) share publicly, as we find their insights valuable in defining and refining our own value proposition.
In a recent e-newsletter i4cp shared a snapshot of three key trends to watch as you plan for leadership development that can truly have bottom-line impacts.
I. Diverse developmental experiences are critical to frontline and senior leader development.
- I4cp finds that “high-performance organizations” are nearly 3X more likely than lower performance organizations to use experiential learning for senior-level and frontline leaders, and 4X more likely to agree or state that experiential learning is an effective development tool for frontline leaders.
- Organizations with strong talent mobility (moving executives around to experience multiple functions and operational units over time) perform better than their competitors. The i4cp finds that high performers are 2x more likely to prioritize the planned movement of key talent.
II. The ability to influence and manage key external stakeholders “comes of age.”
Although 61% of executives believe work experiences with external stakeholders like customers, resellers and suppliers are a critical step in pursuing high-level executive positions, “only 13% plan such development assignments for top talent.”
- Leaders at high-performing organizations are 3X more likely to exhibit the ability to effectively interact with external stakeholders like government officials, partners, resellers, and customers.
- These high-performing organizations plan the movement of their top talent into assignments with key external stakeholders (2.5X more prevalent), and i4cp recommends the practice as a key area to adopt in your talent development going forward.
III. Human capital analytics (HCA) is getting more executive exposure and increased funding.
We don’t emphasize software-driven HCA as a critical success factor as much as i4cp does, but there is great value in measurably tracking the success of investments in development programs. Yet, i4cp finds that, while two-thirds of executive teams are using results from human capital analytics projects, “only 30% of executives indicate their organization’s HCA function has strong credibility and influence.”
- HCA primarily supports organizational effectiveness and strategic planning in i4cp’s view, and they find that high-performers are 2X more likely to use HCA data for strategic planning purposes. (We might add that this could be switching cause and effect – Planners that fully value and leverage available data would more likely drive the adoption of HCA tools.)
- As we find in our own work with clients, i4cp reports that improved job satisfaction, as measured against talent retention rates, is the “most widely pursued predictive relationship.” They find that 62% of those surveyed report seeking that metric. They predict that this emphasis may soon shift to “focus on external relationships such as job satisfaction’s impact on customer satisfaction and candidate attraction, as well as organizational culture vs. productivity.”
As you reflect on the successes and challenges of your own talent development initiatives, do you see these trends reflected? Could these three ideas provide areas of focus to improve your results?
We thank the i4cp once again for being so generous with their insightful research!