As technology advances, companies become more global and markets expand, it becomes more and more important to ensure that your business not only has the best talent but is also placing it where it needs to be. If you’re finding your business is growing in your best performing markets, but your profits aren’t reflecting this, you may be victim to the talent to market alignment gap.
In research done by Ernst & Young and LinkedIn, the importance of talent allocation to business performance has become clear. It’s no longer enough to hire the best talent, especially if they can’t access and speak directly to the markets they’re targeting. Closing the gap between talent and market opportunities drives sales and profits, across all sectors and geographies.
Companies with more talent on the front lines and in direct contact with their markets experienced higher productivity and profits. Businesses with positive talent to market alignment can experience earnings up to 25 times higher than those with poor alignment.
Improving Your Alignment
To improve your alignment, and thereby your profits, consider:
- Key markets
What are your highest opportunity markets and where are they? How far away is it from your current market and your talent?
- Moving your people
You’ve got the talent; you just need to get them where they need to be. An effective mobility strategy can ensure a stress-free transfer for your staff.
Through the effective placement of talent, specifically within core and growing markets, companies have been able to track improved profits. Draw upon existing talent and utilise a positive mobility policy to place your talent where it’s needed. Find information on Grace’s comprehensive mobility services here.