Planning for People Risk
Having agreed the business strategy a talent risk review should be undertaken of the Board, Senior Executives and Senior Management.
This review should seek to assess the competencies and experience of each person and their potential. The mix of individual skills and experience on boards and committees should also be considered.
Once this has been undertaken the internal bench should be assessed and a talent gap analysis undertaken.
A plan should be agreed and implemented to address these gaps internally through learning and development and an assessment of potential external talent solutions.
In summary, Talent planning needs to focus on people risk by:
- having a detailed understanding of talent scarcity;
- undertaking a talent risk review of the board, senior executives and senior management;
- creating a talent portfolio technology risk map encompassing all segments of the talent portfolio;
- undertaking a talent resourcing strategy risk review; and
- developing and deploying a revised resourcing strategy for each talent segment
As the nature of working relationships change organisations are looking at ‘build, buy and rent’ strategies. Do they develop talent, hire laterally or plan to use consulting or interim resource for particular roles.