One of the main results of this conference was the production of a list of best practices for companies looking to institute a talent management program. This included the follow key points:
Ownership: From the CEO down to the line manager, the ownership of talent management primarily rests with the direct line manager, and not with the company’s human resources department.
Transparency:
Alignment with business strategies: Talent management strategies should always work in alignment with a company’s wider business strategies.
Consistently measure the system and program process: Monitoring and assessing the results of your talent management strategies will allow you to ensure they keep producing optimum results.
Passionate communication:
Budget for it! Always ensure that an adequate budget is in place for talent management, and never be tempted to cut the budget when times get rough.
Hunt Partners also helped identify a number of key areas in which companies stumble when implementing talent management programs. These were:
Setting and reviewing standards: The best performers in a company may not always be the employees with the most potential. Setting the right standards can help identify which employees have talents that could usefully be developed.
Ownership: A company’s talent management program will only be truly effective if the appropriate managers take ownership and follow through to ensure the program remains an ongoing priority after implementation.
Budget allocation: Not allocating sufficient budget for a talent management program can seriously hinder its effectiveness, as can withdrawing budget later on.
Hunt Partners’ participation in this conference was a useful and worthwhile exercise, and the company’s management team is happy to have been able to contribute to the list of best practices for talent management.
About Hunt Partners (Asia Pacific) Limited
Hunt Partners is a leading Asian-based, retained search firm. Hunt Partners was founded in early 2003 through the merger of three Asian based search firms with similar ethics, processes and visions. The Partners of these firms possess several years experience in the retained search market including AT Kearney, Horton International and Argosy International. The combined partnership resulted in a boutique firm with a pan-Asian footprint, focused in specific Practice Industries at the top management and Board levels.
Hunt Partners’ areas of expertise include: Technology, Financial Services, Consumer, Industrial, Professional Services, Logistics/Supply Chain and General Manufacturing.
Hunt Partners operates offices in Mumbai, Hong Kong and Shanghai.
