The change in the world of work has recently brought with it a number of challenges. Innovations such as artificial intelligence are creating faster, completely new cycles of talent development, and this transformation sometimes creates completely new structures and hierarchies within the workforce.
The challenges of the last three years have been enormous and remarkable in their impact on the workforce. Although change has gained momentum since 2020, the transformation of the world of work began long before that.
The Cornerstone Global Talent Health Index defines the essential components of a complete talent program and determines how to address the most pressing challenges within your organisation. Moreover, the Talent Health Index recommends strategic actions to foster an agile and enduring talent program, helping drive organisations toward unprecedented success.
The complete results and detailed steps for a future-proof talent program can be found here.
Can talent programs scale?
Structured competency management supports HR departments in taking talent to the next level. A key factor today is artificial intelligence. With the help of AI, companies can successfully manage and develop skills and make their programs scalable.
More than 700 managers and 1,400 employees from organisations around the world were surveyed for our Global Skills Report and Talent Health Index. And the result is encouraging — the average global Talent Health Index score is 88.1 out of 112 points. In summary, it seems companies already have the foundations for a promising talent program but are lacking when it comes to automation and strategy. If businesses remain at this level, they'll fail to offer their employees comprehensive development opportunities to help them reach their full potential.
Thirsty for improvement
A transformative talent program is characterised by a highly self-directed talent and learning culture. Data on employees, positions and skills is collected and integrated into key business decisions for guidance.
Most talent programs can be classified at the administrative level. This means talent initiatives are already going beyond compliance to provide employees with at least some skill-based opportunities.
Cornerstone analysed the different dimensions of talent health. Key aspects include a robust learning culture and accessible HR technology with the power to identify and address skill gaps. The next dimension focuses on learning and development through formalised programs using a proactive skills marketplace and robust content strategy. This dimension supports employee personal development and anticipates future skill needs. Without goals, there is no finish line.
How is your talent strategy performing?
While no company is flawless, enhancing learning and training is imperative for sustained success amid the scarcity of skilled workers and evolving job demands. The Cornerstone Global Talent Health Index helps develop an efficient talent strategy and ignite employee enthusiasm for continuous learning.
Embrace the power of a holistic talent management approach. Take the assessment today to illuminate your path to a game-changing talent strategy.
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