Define It, Build It, Measure It: 3 Actions and Indicators To Measure If a Talent Strategy Is Working

Actions

• Identify key business goals and determine the skills, roles, and workforce capabilities needed to achieve them.
• Involve leadership and departmental heads in workforce planning to ensure alignment between business needs and talent strategies.
• Develop a talent roadmap that includes recruitment, upskilling, and retention strategies tailored to business priorities.

Key Indicators To Measure These Actions

• Role Fulfillment Rate: Track how efficiently and quickly critical roles are filled.
• Skill Gap Analysis: Monitor gaps between current workforce capabilities and business needs, aiming for a decrease in skills mismatch.
• Goal Alignment Feedback: Conduct regular surveys with leadership to gauge whether talent initiatives support their departmental and company-wide objectives.

Actions

• Create structured learning and development (L&D) programs, focusing on both technical skills and leadership capabilities.
• Implement clear career progression frameworks to help employees see a path for growth within the organization.
• Facilitate mentorship and cross-functional opportunities to enhance learning and increase engagement.

Key Indicators To Measure These Actions

• Internal Mobility Rate: Track the number of employees promoted or transitioned into new roles within the company.
• Training Participation and Application: Measure participation rates in L&D programs and follow up with assessments or project-based evaluations to see if skills are being applied effectively.
• Employee Retention in Key Roles: Higher retention among high performers and individuals in critical positions can indicate successful development opportunities.

Actions

• Establish and communicate a clear set of company values and ensure they are incorporated into all aspects of the employee lifecycle (hiring, onboarding, performance reviews).
• Foster open feedback loops through regular check-ins, pulse surveys, and employee forums to understand sentiment and address issues promptly.
• Implement policies that promote work-life balance, respect, and inclusivity, ensuring that all employees feel valued and supported.

Key Indicators To Measure These Actions

• Employee Engagement Scores: Use engagement surveys to assess employee morale, connection to the company, and alignment with organizational values.
• Diversity and Inclusion Metrics: Track diversity in hiring, retention, and promotion rates to ensure inclusive practices are being effectively implemented.
• Employee Net Promoter Score (eNPS): This metric gauges how likely employees are to recommend the organization as a place to work—an indicator of overall engagement and cultural fit.