Creating a Talent Management Action Plan

In many ways, the global economic recession has wiped the slate clean for many institutions and individuals.

Business leaders intoxicated by the idea that their enterprises would ride the fortunes of highgrowth national and regional economies have learned some hard lessons about the interdependencies of the global economy. They can no longer lead in a vacuum nor overlook the hard business lessons learned.

Non-executive directors and shareholders have witnessed a day of reckoning for companies that failed to curtail excessive risk-taking and boards that neither understood nor intervened when risk management took a back seat to short-term profit mongering. They now know the high price of indifference and financial instability.

Consumers have also been forced to reset expectations in the face of political instability, corporate downsizing and new pressures related to energy conservation, an increasingly competitive job market, and the need for more robust retirement saving. They have a better understanding of the personal risk and opportunity of the business cycle.

Employer organizations face many challenges. Consider these Talent Management Action Steps from Sanjiv Desai in the New Delhi office of executive search firm TRANSEARCH India. We believe they are relevant no matter what the size of your enterprise nor the challenge of reaching your objectives:
* Invest in workforce planning, employer branding, recruiting and retaining enough qualified and experienced employees at all levels to meet the needs of organic and inorganic growth, sometimes in a great hurry to be able to take advantage of emerging opportunities.
* With the changing age demographics, create a corporate value proposition that appeals to multiple generations.
* Internally develop a strong leadership pipeline to meet future growth requirements.
* Focus on training and development initiatives to round out the capabilities of new recruits who lack the depth and breadth necessary for global roles.
* Capture, manage and transfer crucial business knowledge and relationships.
* Control workforce attrition rates that have become almost a norm and endemic across all industries.
* Design new and cutting edge talent management practices to attract and retain the current younger generation which thinks in a completely new fashion.
* Create an environment that allows senior talent in their second careers to contribute effectively.
* Change the cultural and attitudinal mindset of old fashioned executives who do not understand or do not want to understand the new realities and challenges.
* Integrate different cultures into a rapidly globalizing workforce.
* Manage poor performance and low levels of employee engagement.

This article summarises the White Paper entitled 'Asia Pacific Leadership Outlook: A Moment of Opportunity For Asia'. Get your copy of the full White Paper via the Transearch International website at ">http://www.transearch.com/press-room/article?article_id=465
. Given what they know about the quest for truly responsible business and institutional leadership, executive search firm Transearch International is delighted to share the exceptionally well informed perspectives of just some of their top consultants from across Asia.

Note to Editors: About Transearch International
Executive search firm TRANSEARCH International has representation in most of the major economic centres of the world with 59 offices in 37 countries. TRANSEARCH International was founded in 1982 and is a leading international executive search firm. Creating a Talent Management Action Plan