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Best time management tips is "you cannot do it all yourself". Let others help.

At first look, talent management might seem like a responsibility that CEOs should relegate to HR and their lower level managers. After all, it's about hiring, setting individual employee goals, rating competencies and performance, assigning development plans, making compensation adjustment, etc. Not the critical stuff a time-crunched CEO should be focusing on.

But all kinds of research is showing that companies with mature, integrated talent management processes are outperforming the competition:

• The Hackett Group recently found that companies with more mature talent management capabilities have on average18% higher earnings, 54% greater net profit margins, and greater return on equity and assets than their counterparts without mature capabilities.

• The Aberdeen Group's latest research finds that companies who integrate their talent management processes see significantly greater performance gains, and can measure a correlation between their talent management efforts and business operational results.

• And IBM, HCI, IDC and others have shared similar findings.

Part of why this might be true is that good talent management lets you make the most of your employees by giving them the direction, feedback, development and rewards they need to excel. But good talent management processes also give you as a CEO important data and metrics about the health and strength of your workforce that make it easier to manage and make key decisions. Things like:

• Ratings on key competencies
• Goal alignment and progress on goals
• Employee turnover
• High potential and high performing employees
• Low performing employees
• Retention risks and trends
• Performance improvements related to training
• Areas of strength
• Skill gaps
• Employees with special skills/experience/expertise
• Succession candidates

The list goes on.

Armed with this kind of data, CEOs and their executive teams can make faster, better decisions about succession, readiness to tackle a new market, ability to support strategic initiatives, training investments, who to layoff in a downturn, etc. and in general, better manage their most strategic asset – their workforce.

But reaping the benefits requires organizational commitment, and ideally, that should start at the C-level.

What do you think? Are you giving talent management the attention it deserves?

Aireen - Please make a comment on this....

As an Acting Administrative Officer, I am doing my best to develop talents and cultivate our people's capabilities and skills, but it can not be done without everybody's participation. Replying to post in blogs is the best start to develop the talent in you... so please read and comment on this blog...