Talent Planning Should Begin With The Business Review

A business review offers insight into what an organization is doing … what it is accomplishing and what it is lacking. Executing a business review can help talent managers figure out the best tactics for talent planning. A TalentManagement.com blog article by Dave DeFilippo and Jessica Baker notes the proper talent planning tactics to use after assessing the organization’s business review.

Talent planning is as crucial as budget planning. One crucial element for talent mangers to consider is the organization’s business review. In the business review, executives must identify organizational goals, critical business challenges, and the workforce talent and skills that are necessary to accomplish those aforementioned objectives. Some say this should be the first goal of an organization’s HR requirements.

By starting the talent planning process with a business review, talent assessments such as those necessary for effective succession planning will be more appropriately positioned for relevancy and, as a result, will become an expected step in the business planning process.

Talent planning is not only about the present but about the future as well. Present talent planning focuses on near-term business needs and maximizing the efficiency of current talent. In the future, it’s focus is to promote strength and agility for the organization. Talent planning consists of talent assessment, development planning, and tracking progress.

Since the business review should come first and foremost, there are several questions to consider as a way to frame the business review conversation among executives. A few such questions include “How did we perform over the last annual business cycle?”, “What are the current  and future critical business challenges?”, and “What are the two or three most critical skills and attributes needed to meet these business goals and challenges?”.

After the business review has been nailed down, talent assessment can begin. This conversation should cover what capabilities, experience, and skills are currently working within the organization and what skills and talents are needed to carry the organization forward. When considering how to move the organization forward, development and workforce planning come into the equation. All of these factors combined create an efficient talent assessment.

After all of the strategies have been combined to create a forward-motion business plan for the organization, it’s crucial to track the progress of implemented strategies.

Similar to a regular financial review, establishing a mechanism to track progress is critical in order to make meaningful progress and embed talent planning as a business process.

Putting all the pieces together from an overall business review to talent planning creates a unified, coherent organization. It’ll create a stronger business with a strong workforce and a strong focus on organizational goals. To read more about how to implement talent planning within your organization, click here to read the full article.

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