managing talent personnel
Power to the people
As the business world climbs slowly from recession, the stresses placed on your most important asset – your people – begin to show. With staff retention as important at this stage of the recovery as it has ever been, Nikki Dallas and Gary Binder ask: How robust is your talent asset management strategy?
F
inally, after a turbulent time, it seems that the UK has reached the stage where not every news bulletin has a negative segment on the economy and unemployment. Throughout the
property industry, we are finally experiencing the signs of a recovery. However, as we now come out of the
recession with the most severe economic challenges behind us, there are new and potentially damaging challenges ahead. Most organisations in our sector will discover a discrepancy between tasks
they have to undertake to facilitate their recovery and the talent they have to hand to assist in this recovery. They will have to face some very difficult decisions about their people and ensure that they have a talent management strategy robust and effective enough to allow them to be the most agile and adaptable to the new and volatile market conditions. The danger that all organisations must heed is the potential of rapidly escalating staff turnover exactly at the time that stability is required in order to facilitate a return to growth and profitability.
Recent research conducted by the HR
consultancy Chiumento indicates that almost a fifth of the UK workforce (17.8%) will be actively looking for a new job within the next six months, and almost a third (33.5%) plan to move on within two years. Money is likely to be a key driver for these respondents, with 69.3% saying that a higher salary was a very or extremely important factor in them feeling satisfied in their careers. So it is clear, then, that attempting to
reduce costs through salary cuts or freezes as many organisations did when
www.pm-select.co.uk l september 2010 l Property Management Select l 47
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