Tuesday, July 30, 2013

4 Tips For Talent Management

The fast-paced world we live in has made it more important for nonprofits to manage human capital. Yet a new survey from the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) seems to indicate that quite the opposite is happening.

The survey, distributed during the AICPA Not-for-Profit Industry Conference and titled “Talent Pipeline Draining Growth,” details how bad management can hurt a nonprofit in all facets of the organization. In addition, it offers four steps to reconnect human capital to the growth agenda. The steps are:
  • Embed human capital strategy within the wider overall business strategy. Organizations need to develop relevant human capital metrics to support and implement the wider strategy.
  • Focus on getting the right information and translating it into actionable insight. Human capital information needs to be credible and accurate.
  • Leverage the relevant skill set to bring credibility to the data, insights and subsequent actions. Organizations must ensure there is clarity on responsibility, accountability and ownership for human capital performance management.
  • Structure the organization to encourage collaboration and partnering. If necessary, restructure for closer collaboration at the executive and operational levels, especially partnering between finance and human resources.

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