The UGM approach to Managing Talent
We can help you:
- craft a compelling HR / Human Capital strategy that is tightly aligned with and supports the overall organisational strategy.
- consider and adopt the most strategic approach to components such as recruitment, remuneration, engagement, development, performance management and retention.
Knowledge and the ability to apply it are key elements in the value chain. The machines of the past were owned, good for years and even decades of production, and largely immobile. In contrast, deriving value from knowledge, which is mostly people-based, is very different. Increasingly, companies simply rent, rather than own, know-how: essential knowledge and capabilities are retained by individuals themselves. As could be expected, attracting, retaining and aligning the right talent then becomes an extremely important strategic issue. Intensified competition for talent is seen as the most significant by far of the challenges facing businesses globally. Yet not all talent adds equal value and neither do all positions. Some people and some positions are of greater strategic value than others.
Adopting a strategic view of human capital is likely to result in more successful performance, due to better alignment of efforts. UGM clients have reported that where HR plays a strategic and valued role it also adds significant value to the business. Research conducted in over two hundred companies in the financial services sector found that when HR practices were internally aligned with one another (and also with overall organisational performance) business performance was significantly enhanced. In the competitive (indeed hyper-competitive) world of business, success is most likely when a company has core competencies that create and sustain competitive advantage. Resources are deployed to increase efficiency and effectiveness, exploit opportunities, and minimise (or neutralise) threats.
The value added by human capital is maximised when it is engaged and managed strategically, with at least the same degree of diligence that is afforded financial capital. A human capital strategy should be an integral part of how the company will achieve its strategic objectives and, ultimately, live its vision. Therefore, a key element of a strategic approach to human capital is not only recognising that some positions move the performance needle more than others, but acting to add value by shoring up areas of core competence that deliver this unique competitive advantage.
Read more about UGM approach to Human Capital Strategy. Our resource, Managing Talent - A Human Capital Strategy case study, provides additional insights into how we work.
If you would like to receive further information about UGM approach, please e-mail us at info@ugmconsulting.com.
