What Talent? Long-Term Workforce Strategy Needed to Stay Competitive, Says Ernst & Young

Most companies know the kind of talent they need to support their bottom line, such as people with a global mindset, but few have the strategies in place to get the skills they need in the long-term, says Ernst & Young — named today as an eight-time Great Place to Work® award winner in Canada. 

"Building a leading workplace culture is an ongoing journey. Though our work is never done, we're proud of this award, and of our people across the country that make our workplace better every day," says Stephen Shea, Ernst & Young Managing Partner, People. "In our firm and beyond, we've seen repeatedly that high-performing companies successfully strategize to stay competitive in the recruitment and retention landscape, building high-performing teams as a key driver for staying competitive in the overall business landscape"

What are high-performing companies doing differently when it comes to talent management? They're successfully linking pay with performance, developing customized training and development programs, and investing in good people to meet financial targets, according to an Ernst & Young report, Paradigm shift: Building a new talent management model to boost growth. 

These are precisely the types of practices the Great Place to Work award acknowledges — recognizing organizations that actively and successfully foster trust, pride and camaraderie amongst their employees. And a quick look at the award winners confirms the financial results do follow. 

"Businesses need to strategize to attract the right talent to build high-performing teams, while also giving their top performers the opportunity to challenge themselves in new markets, says Shea. "These experiences will help employees gain exposure on a global scale, and grow their agility and appreciation for working across borders and cultures. Today, a strong talent management strategy needs to go well beyond a strong head office."

For its part, Ernst & Young has strengthened its connection to firm counterparts around the world in recent years, earning the firm a Best Multinational Workplace Award last December, in addition to this latest accolade from the Great Place to Work Institute. Internally, employees use a host of tools to promote collaboration and knowledge sharing across borders and service lines.

To keep its talent strategy informed and evolving, Ernst & Young proactively measures its progress for maintaining a leading workplace culture, including its internal Global People Survey (GPS) of employees and an external employee value proposition study, benchmarking results against competing organizations.

on April 10, 2013