The three “R’s” of talent management for power and utilities

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It’s not the three words that you think

When talking about the workforce challenges facing the power and utilities industry, we commonly hear retirements, recruiting and retraining. The industry certainly is taking a hard look at its talent and taking steps to ensure that team members have the right skills needed for the future of the industry. While these are key factors impacting power and utility companies, rethinking, reimagining and reigniting are three equally important words.

Read more about what power and utilities should focus on as they move the industry forward, embrace a more integral role and address the challenges of talent availability in this increasingly digital age.

Align your business and talent strategy

More and more power and utility leaders are refreshing their business models and strategies to better meet customer needs, according to a survey of industry peers.

To drive the required cultural transformation, power and utilities must consider aligning their talent strategy with the refreshed business model and organizational strategy. Being successful requires a strong partnership between business leaders and human resources.

Fueling performance management with innovation

Traditional performance reviews are not an effective option for the tech-enabled workforce. Leading organizations are moving from annual formal sessions to innovation-fueled and career-driven performance management programs.

The idea is to shift from documentation of the previous year’s activities to a more forward-looking development of the leadership attributes and critical competencies that will move the company forward.

Improving the employee value proposition

Competing effectively for talent with companies across industries will require leaders to reconsider their employee value propositions. This includes how to attract new workers in an increasingly competitive talent market, while also retaining high-performing team members. It’s important to ensure that employees have opportunities to learn new skills, while offering more technology and tools that the next generation of talent is accustomed to in their everyday lives. 

Contact us

Michael (Casey) A. Herman

Energy, Utilities & Mining Co-leader; US Power & Utilities Leader, PwC US

Karen Brennan-Holton

Principal, Power & Utilities Human Capital Leader, PwC US

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