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Companies fail to properly develop employee talent

Only 33 percent of respondents stated they manage their talent effectively.

Tough economic conditions can increase pressure on companies to do more with less. Unfortunately, a large number of businesses are failing to get the most from their employees, according to a survey by the Korn/Ferry Institute.

The international survey found that only 33 percent of organizations said they manage their talent effectively. Most companies feel that they are not providing the right environment to create engaged workers who can consistently perform at high levels.

"It's clear that organizations have more work to do in the way they manage talent," said Ilene Gochman, of Korn/Ferry said. "Companies must invest in resources to support talent management and to differentiate talent based on well-defined measures of potential and performance."

Employee incentive programs can help firms create supportive environments for their workers. The survey found that 75 percent of organizations lacked the appropriate level of staff to manage talent effectively. Incentive programs can help direct employees by clearly communicating performance expectations.

These rewards can also provide morale boosts and lend to a sense of pride among the staff. These initiatives can help organizations create cultures that fully engage workers and allow them to perform at their best.

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