{"id":30350,"date":"2019-10-09T12:19:14","date_gmt":"2019-10-09T19:19:14","guid":{"rendered":"https:\/\/www.orgchartpro.com\/?p=30350"},"modified":"2019-10-13T02:16:03","modified_gmt":"2019-10-13T01:16:03","slug":"talent-hoarding","status":"publish","type":"post","link":"https:\/\/orgchartpro.de\/de\/talent-hoarding\/","title":{"rendered":"Talent Hoarding"},"content":{"rendered":"<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">At the time of writing U.S. unemployment is at 3.7%, which can be arguably regarded as full employment<\/span><span style=\"background-color: #white;\">. A<\/span><span style=\"color: #000000; background-color: #white;\"> host of workforce issues attend this favorable employment environment such as worker quality, job satisfaction and employee retention. In the competition for workers, companies can become so desperate for help that they neglect employee development. The concept of \u2018talent hoarding\u2019 is being used to describe a manager\u2019s tendency to focus on retaining<\/span> <span style=\"color: #000000; background-color: #white;\">their employees so much so that they neglect their development. <\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">When managers neglect to encourage or even allow for internal movement of employees, they\u2019re \u2018hoarding\u2019 talent, and flirting with the risk of de-motivating or losing good people. The <\/span><a href=\"https:\/\/www.gallup.com\/workplace\/246512\/exit-perspective-paper.aspx?g_source=link_wwwv9&amp;g_campaign=item_263558&amp;g_medium=copy\"><span style=\"text-decoration: underline; color: #1155cc; background-color: #white;\">top reason employees give for leaving their employer<\/span><\/a><span style=\"color: #000000; background-color: #white;\"> is &#8222;frustration with career progress,\u201d according to a recent analysis by Gallup. Gallup&#8217;s <\/span><a href=\"https:\/\/www.gallup.com\/workplace\/238085\/state-american-workplace-report-2017.aspx\"><span style=\"text-decoration: underline; color: #1155cc; background-color: #white;\">2017 State of the American Workplace report<\/span><\/a><span style=\"color: #000000; background-color: #white;\"> showed that a full 51% of currently employed adults are either actively or passively looking for new job opportunities. So it\u2019s not surprising to find that companies failing to prioritize their workers\u2019 career mobility are the most vulnerable to losing talent.<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">But why is this kind of hoarding so bad for business? Investment to find, onboard, train and develop employees in a specific role is expensive and retention of skilled workers is critical. While keeping employees in the same position may seem like a method to skyrocket a team\u2019s success, it actually stunts growth and leads to an employee\u2019s dissatisfaction with the manager and eventually job disengagement. Closing the door on mobility damages an entire organization&#8217;s health\u2014and loses a company\u2019s best people.\u00a0<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">Eliminating talent hoarding can help you leverage the talent you already have. <\/span><a href=\"https:\/\/hbr.org\/2017\/02\/the-best-companies-dont-have-more-stars-they-cluster-them-together\"><span style=\"text-decoration: underline; color: #1155cc; background-color: #white;\">Bain &amp; Company<\/span><\/a><span style=\"color: #000000; background-color: #white;\"> found that top-performing companies (those in the top quartile surveyed) had nearly the same percentage of \u201cstars\u201d in their workforce as the other companies surveyed. In other words, the most successful companies don\u2019t actually house more star talent overall than low-performing companies. The difference: they invest in their key players wisely.<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">Holding back your star players from new roles not only leads to low employee retention but negatively impacts market success. In their <\/span><a href=\"https:\/\/www.i4cp.com\/productivity-blog\/2016\/04\/14\/i4cp-study-finds-managers-who-cling-to-good-talent-are-bad-for-business\"><span style=\"text-decoration: underline; color: #1155cc; background-color: #white;\">Talent Mobility Matters study<\/span><\/a><span style=\"color: #000000; background-color: #white;\">, the Institute for Corporate Productivity found that <\/span><span style=\"color: #000000; background-color: #white;\">74% of the companies<\/span><span style=\"background-color: #white;\"> characterized as bottom performers,<\/span><span style=\"color: #000000; background-color: #white;\"> admitted to hoarding<\/span><span style=\"color: #000000; background-color: #white;\">. What\u2019s more, the study found that prioritizing talent mobility directly correlates to higher market performance in profitability, customer satisfaction, market share, and more.<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">Sparking change is <\/span><span style=\"background-color: #white;\">the responsibility of<\/span><span style=\"color: #000000; background-color: #white;\"> leadership. Fixing the talent hoarding habit requires some major organizational shifts, like instilling a big-picture mindset (working to benefit the organization versus only a manager\u2019s own team). Employee engagement, identifying business-critical roles, mentorship, and mobilizing stars into diverse roles are all key management actions to correct a talent hoarding trend.<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">Leaders must begin with a shift in perspective. They must realize that investment in developing talent is a continuous effort, and that growth through new challenges, even if it means mobility, brings bottom line benefit.<\/span> <span style=\"color: #000000; background-color: #white;\">It\u2019s always wise to invest in understanding the facts and measures for performance.<\/span> <span style=\"color: #000000; background-color: #white;\">OrgChart software can help with this analysis. Indicator metrics of talent hoarding such a turnover ratio, bench strength and performance can be uploaded from HR data sources to be clearly visualized in a chart format. Different departments of the organization can be compared to identify potential problem areas.<\/span><\/p>\n<p style=\"text-align: center; margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\"><img decoding=\"async\" src=\"http:\/\/orgchartpro.de\/wp-content\/uploads\/image1-1.png\" alt=\"https:\/\/lh3.googleusercontent.com\/F9eeQywnvn2EHVbqMhCL6vPY5-eMhNJVaQfJuY9p5pOBA_fqZZnn7TElZ8i0Qm-RJNu1K6BkoXnozFSJJjvAkFuujAsfDT0I6eqRX5A6uYhjROlozb1vG4597WJJ_JxYIYtaClAn\" \/><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"text-align: center; margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\"><em>Tenure and Performance Rating, used along with other workplace metrics, can help identify talent hoarding within your organization\u00a0<\/em><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 12pt; line-height: 1.2;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 0pt; line-height: 1.2;\"><span style=\"color: #000000; background-color: #white;\">While encouraging worker mobility might seem disruptive or counterproductive to some managers, the evidence indicates that for the long-term health of your business, it\u2019s the right thing to do. Ask us for a free demo of our OrgChart Software and see how charts generated from data sources you already maintain are used to give clear insights of key HR metrics across your organization.\u00a0<\/span><\/p>\n<p style=\"margin-top: 0; margin-bottom: 10pt; line-height: 1.38;\"><span style=\"display: inline-block;\"><span style=\"display: none;\">.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the time of writing U.S. unemployment is at 3.7%, which can be arguably regarded as full employment. A host of workforce issues attend <a href=\"https:\/\/orgchartpro.de\/de\/talent-hoarding\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":30351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.8.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Talent Hoarding - OrgChart - Germany<\/title>\n<meta name=\"description\" content=\"In times of high employment, businesses sometimes onboard needed employees but fail to develop them. 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