It’s very likely that your business lacks the talent it needs, at least in a few critical areas. This may be due to poor employee retention and development, which leads to employee turnover—or, you simply didn’t attract and hire the right employees in the first place.
Research Bulletin – A Multifaceted Approach for Assessing Talent
Throughout the process of talent management there is a common and critical thread – the need to assess people. This paper, authored by Bersin & Associates (now a Deloitte research company) includes a case study outlining how Sitel used the ProfileXT® to improve retention rates, employee training and development, and succession planning.
How Talent Gap Affects Your Business
This lack of needed talent can negatively impact your business in several ways. You will find it very challenging to remain competitive in your industry if you don’t have impressive superstars in important roles at your company. Without sufficient talent to support your business operations, you may have difficulty reaching your goals, both at the organizational level and within certain departments. In addition, you may struggle to be innovative and serve as a pioneer in your industry if you don’t have creative thinkers and brilliant visionaries among your ranks.
It isn’t enough just to recruit new talent—you must also keep the high-quality talent you already have. If your retention rates aren’t where you would like them to be, you will incur constant expenses related to recruiting and training a continuous cycle of new hires.