What is the return on investment of a company’s talent management program? This is the kind of question that many HR professionals now have to answer, according to a study conducted by Right Management.
According to the Right Management talent management specialist firm, HR professionals are facing growing pressure from their superiors to measure the impact of talent development programs in the company. Among those countries where this is most sought after are Asian countries such as India and Singapore (93%) and China (91%), followed by Brazil (89%) and Canada (85%).
General trend
Measuring this return on investment has always been difficult. Yet it is a demand that is widespread in the world. Today, the talent development strategies conducted must demonstrate their value. To achieve this, HR professionals need more than ever to expand their knowledge of the company’s financial aspects.
Effective measurement tools
HR departments seem to have made efforts in this regard. Worldwide, 68% say they have effective tools for measuring the impact of talent management programs in the company. The proportion is highest in Asia (83%), followed by Europe, the Middle East and Africa (66%) and America (57%). The results are tempered nonetheless. According to most companies interviewed around the world, it will take some time before they are completely satisfied with the effectiveness of measures taken concerning development of talents.