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Forty-five percent of global executives surveyed by Korn/Ferry International Inc. (NYSE: KFY) say talent management is the single most important corporate strategy for their company to implement. However, 35 percent of respondents said their companies do not have a talent management strategy in place.
“Our survey indicates that even when top executives say that a strategic approach to determining human capital needs such as recruiting, hiring and retention is one of the highest priorities on their agenda, many companies’ talent management practices lag behind the minimum accepted standards,” said Ana Dutra, CEO, Korn/Ferry Leadership and Talent Consulting. “Many companies today have yet to align their talent strategies with the changing nature of business strategies.”
Question results included:
What do you think is the single most important strategy for a company to implement?
Talent management: 45 percent
Marketing: 26 percent
Financial management: 21 percent
Capitalization: 7 percent
Has your company implemented a talent management strategy?
Yes: 59 percent
No: 35 percent
Never heard of talent management: 6 percent