According to many experts, personnel risks are among the most important influencing factors for sustainable corporate success today, because the so-called "human capital" is largely responsible for this. In many companies, however, there is still more than room for improvement in how to reduce these dangers. Talent and successor management aims precisely at this not insignificant gap, according to Prof. Dr. Gerhard Graf in the Expert Talk: "[...] with a functioning talent and succession management in your own company, the risk of missing replacements, which are relevant for the future, can be significantly reduced."

In a large-scale study by the business and financial consultancy Deloitte LLP, 155 CFOs from the largest and most influential companies in North America were asked: "What's keeping CFOs up at night in 2020?" (CFO Signals survey, Q3, 2020). In a top 10 concern scale, the Chief Finance Officers surveyed gave the “lack of sustainable talent development and retention, as well as the motivation and retention of good employees in the company” in sixth place.

Prof. Gerhard Graf showed that the topic has had far-reaching relevance for more than 20 years:

However, talent management is a keyword that has not only gained relevance on the labor market in the last few years, which have been shaped by the pandemic. Talent management had already had a profound impact on HR circles at the turn of the millennium: Steven Hankin from McKinsey & Company described the situation as dramatically as back in 1998 as the “War of Talent”. In a large-scale study, the renowned consulting firm examined 77 companies and 200 executives. You have to identify key positions in good time and fill them. Today, more than 10 years later, the situation is even more drastic, as announced. The shortage of workers is omnipresent, employers have to make themselves popular with workers at trade fairs, and the search for good employees is difficult.

But how do you keep talent when everyone is reaching for it? A new instrument, created by Transformation Management AG, provides a remedy - supported by data from a long-term study that the company has been conducting for 10 years with over 400 companies in the DACH region. With the so-called "Talent Management Maturity Tool" detailed insights into the actual situation of the human capital risks of companies can be calculated. Prof.

Dr. Gerhard Graf is certain: "The index is a benchmark for the talent maturity of an organization. It docks directly to the corporate strategy and helps to minimize this strategic risk. A full 20-30% are so-called “bad hires” in companies and many managers see keeping good employees as one of the most important strategic assets to minimize human capital risk.”

The cooperation between the TU Vienna Academy for Continuing Education and Transformation Management AG, opens an external URL in a new window puts this omnipresent topic in the spotlight with an academic certification in the form of a compact program: Talent management must be built up systematically and in a structured manner in order to enable good control. The age structure and fluctuation must be examined carefully. Once installed, it ensures a qualified replacement.

Learning architectures and learning concepts follow in order to keep important employees. In the practice of the course, the existing models of the Transformation Management AG are applied together with the participants. This results in direct, practical insights into the respective corporate environment. A first step to specify the level of maturity and the options that are possible in the company in terms of talent and succession management. Through the applications and the exchange among each other, there is a high level of learning with regard to the definition of key positions, development opportunities and the optimization of corporate success with an optimally positioned human capital factor.

More information on the compact program at: Talent Management and compact-programs@tuwien.ac.at

Key Facts

• Period: March 13, 2023 – June 30, 2023
• Format: extra-occupational, blocked in modules
• Number of participants: max. 15 people
• Participation fee: € 3,600 (excl. VAT) + € 180 (excl. VAT) examination fee
• Language: German
• ECTS: 8 ECTS
• Degree: Academically certified Talent and Succession Manager

Contact

Mag. Vanessa Racz
Senior Program Manager
Management & Leadership Programme
E-Mail
T +43 1 58801 41708