as it demonstrates the key role that competency modeling and assessments play in building a strong foundation to support succession planning.
Chicago, IL (PRWEB) January 9, 2008
SHL, a leading provider of objective assessment and competency models announced its sponsorship of the Aberdeen benchmark report, "The Looming Leadership Void: Identifying, Retaining, and Developing Your Top Talent." In the report, Aberdeen Group, a Harte-Hanks Company (NYSE:HHS), found that while only 48% of all organizations surveyed are currently pursuing succession planning, 84% of Best-in-Class organizations leveraged succession planning to increase the percentage of key vacancies filled by internal candidates, as compared to only 19% of Industry Average and 0% of Laggards.
This benchmark report is a compilation of surveys and interviews from 245 organizations globally and highlights how Best-in-Class performers are using a combination of strategies, processes, and technology solutions to identify, develop, and retain their top performers and ensure continuance in key positions throughout the company. The report is very timely as companies prepare for an unavoidable and growing leadership void being created by the enormous numbers of baby boomers who are, or will soon be, leaving the workforce.
"SHL is very pleased to support this research study by Aberdeen," explained Nick Hallwood, Vice President of Product Development, "as it demonstrates the key role that competency modeling and assessments play in building a strong foundation to support succession planning." Aberdeen's data shows that 58% of Best-in-Class companies have defined both the skills and knowledge ("hard" competencies) needed to excel in positions, as well as the attributes or behaviors ("soft" competencies), and an additional 33% plan to do so over the coming year. Further, 43% of Best-in-Class companies are utilizing assessment technology to measure attributes and behaviors, and 39% use assessment technology to measure skills and knowledge. These numbers drop significantly for those companies lagging behind in establishing succession planning processes.
"This data is very consistent with SHL's experience in working with top-performing companies" shared Hallwood. "Once companies realize the benefits of hiring more effectively by matching people with the competencies required to perform on the job, they start to look for broader ways to apply the value of assessments, and progress into development, career pathing for high potentials, and succession planning."
President for SHL Americas, Dr. Hennie Kriek, Ph.D., agreed, "I find it equally compelling that Aberdeen's research shows that 'those companies that have fully-automated their succession planning efforts are nearly 3.5-times more likely to achieve Best-in-Class status.' This correlates with SHL's experience as the use of online assessments has boomed, and those companies that automate and build assessment into their hiring and development practices are able to measure and build on their success, consistently increasing people performance, while reducing turnover and time-to-hire."
"Understanding the corporate metrics that the organization wants to measure and improve upon will help companies target the use and application of succession planning technology," said Kevin Martin, Research Director, Human Capital Management at Aberdeen. "Organizations should pursue technology that will help identify high potential workers and ascertain where critical gaps exist. For those just getting started, I recommend that they start small then grow. Establish competency models for a few select positions and utilize assessments to measure against these models."
The Aberdeen report examines how global enterprises are utilizing succession planning strategies, processes, and solutions to prepare for the loss of key leaders to retirement, prevent the loss of high potential talent to competitors, and strengthen bench strength in terms of quantity and quality of successors. The report offers recommended actions that all companies can take to become more proactive and empowered in planning for future talent needs and engaging the talent they need to keep.
As a sponsor of the Aberdeen report, SHL is offering a complimentary copy of this research report available for download.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen™ for insights that drive decisions. For additional information, visit http://www.aberdeen.com.
About SHL Group Limited
SHL is a world-leading provider of psychometric assessment and development solutions. The company supports organizations in the selection, recruitment, promotion, succession planning and development of talented people at all levels and across all sectors. Operating in 40 countries and more than 30 languages, the SHL Group devises innovative approaches to help organizations increase productivity and gain competitive advantage through the more effective use of their human capital. SHL has over 15,500 organizations as clients, including many of the Global and Times Top 1000, and is recognized as the foremost provider of objective assessment products in the world. For more information please visit http://www.shl.com.
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