As new data-driven technologies continue to reshape the products, workflows, and business strategies powering the growth of individual organizations and the global economy, the demands on the workforce are growing more complex — and urgent — each year. As a result, the need to recruit and retain talented employees who possess the knowledge and skills to enable transformative innovation while simultaneously meeting the elevated expectations of customers and other stakeholders has never been greater.
Talent management is essential for superior performance, productivity, and growth for industries such as high-tech, life sciences, consumer goods and retail, and industrial manufacturing that depend on a healthy supply chain. Yet successful talent management strategies entail more than simply going through the motions of basic HR processes such as hiring, development, and recognition. To deliver an outstanding employee experience, organizations must also create a motivated workforce that will stay with and add value to the company.
Every team member directly impacts the bottom line, whether good or bad. Prioritizing talent management is a critical factor in retaining skilled workers, increasing business performance, and helping organizations recoup investments in development. It ensures employees are well-equipped for success and that businesses are as well. According to one
estimate, 83% of HR leaders believe the employee experience is “very important” to organizational success.
A closer look at the nature of talent management within the supply chain landscape offers insights into how businesses can advance their efforts now and in the future.
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