Talent Management | Developing your talent strategy: five tips for success

Attracting, developing and retaining your best employees is no easy feat – particularly in such a competitive job market. Here’s how you can recruit and keep your incredibly valuable people by using a strategic approach.

The UK talent market is tough for employers right now, with 80% of UK employers struggling to find the talent they need. Despite some recovery after the pandemic, record numbers of vacancies continue to go unfilled. Employers are having to offer more flexibility to engage their staff – but could they be doing more to build long-term resilience to changes in the job market?

As HR leaders look to the future of their workforce, many are reimagining their talent management strategies to drive resilience and build value. In this article, Moorepay take a look at five top tips for developing a talent strategy for the future of work to ensure success.

1. Plan for effective succession

For any talent management strategy to be truly effective, there needs to a foundation of succession planning in place. However as even more C-suite turnover is expected in 2024, and 84% of HR leaders citing “barriers” to providing learning and development to their leaders, filling the gaps for senior roles may prove particularly challenging. This is coupled with the fact two thirds of HR managers continue to be dissatisfied with their existing leadership development programs – showing there are plenty of obstacles for those wanting to develop succession in the business.