KPMG's People and Change consultants believe there are three major challenges to designing, developing and deploying talent strategies that are pitch perfect for each organization:
- The need to adopt a forward-looking focus that helps the organization tune in to the needs of their future talent – to see talent management through the eyes of the next generation of workers. The process starts by understanding what skills and capabilities the organization will need to win in the future and the kind of people that will be required tomorrow. Strategic workforce planning is, therefore, a key component of KPMG's approach to talent management.
- The importance of treating talent management as a business-critical process. Strategic talent planning should be part of business planning, not a standalone HR exercise. For example, it is important to embed talent risks such as succession skills availability or key person dependencies into the organization's enterprise risk management framework – placing these risks firmly on the radar of the right people at the right level.
- The need to look well beyond traditional talent management approaches to hiring, developing, engaging and retaining the best people. To ensure you have access to the talent you need for the future, this may include looking at potential business acquisitions, joint ventures or alliances as new sources of essential talent – or taking workforce flexibility to a whole new level through greater use of contingent workers, for example.