Talent Exchange is a not-for-profit consultancy.
Our mission is to improve the careers of voluntary sector workers by raising standards and increasing options.
The UK voluntary sector employs nearly a million people (excluding volunteers) and over 60% of charity employees work in organisations of less than 50 people. Despite high levels of employee engagement charities typically lose about 20% of their staff each year. This is expensive in terms of costs of recruitment (£400m per annum to the sector) as well as the lost productivity (£2bn per annum) which affect levels of service/care to beneficiaries.
Talent Exchange works by:
We are a team of HR consultants, specialists in our own areas, with years of experience supporting the voluntary sector.
Talent Exchange is set up as a Community Interest Company (CIC).
Talent Exchange is a people consultancy, shared service provider and innovative talent management platform. The consultancy is designed to improve the efficiency of talent management practices with off-the-shelf solutions. The service offered allow member charities to access professional support and employee benefits at low cost. The talent management platform enables charities to share their talent pools to create more enriching careers for their staff.
The solution consists of a framework of standardised programmes, designed in consultation with leading charities, to improve performance, career and reward management.
The solution also includes programme management and annual support to develop a workforce strategy, plan activities that fill resource gaps, and manage the annual pay review.
The shared services supplement the core solution. These include a range of services such as recruitment solutions, legal advice, managed employee benefits as well as leadership support and coaching. These can be accessed on demand.
The platform consists of an agreement between organisations to participate in a talent exchange, on terms they agree, that establishes a shared talent pool. This is facilitated by a technology solution that supports better career management through greater transparency of career paths and effective line manager tools.
We recommend that the agreement includes a commitment to align policies and practices related to careers, including the way people are rewarded and the benefits that are provided, to ensure an equilibrium within the consortium.
The process involves the implementation of the framework, delivery of the services, and collaboration through the talent exchange, supported by effective programme management.
During this phase individual charities would implement the new framework. This would involve a talent review and job mapping activities. These would be used to benchmark pay and build a workforce plan. Participating charities would also have access to the benefit programmes.
During this phase we would provide the core services to individual charities that support talent planning, career and performance management, as well as the annual reward review.
During this phase participating charities would agree to participate in a consortium and develop the rules for talent sharing. These would be collaborative activities, accelerated using template materials. At this time the career management platform would be configured and line managers would be trained on its functionality.
Every organisation would have a dedicated programme manager who would co-ordinate the delivery of the services as well as monthly programme management meetings to review progress and plans. Organisations that participate in a consortium would also attend a quarterly forum, and participate in an annual review process, resulting in a collective talent plan.
This reviews the nature of leadership pay in the voluntary sector. In particular how it compares pay in other sectors, the relationship between CEO pay and other workers, and the factors that appear to determine pay level. Finally, it proposes a formula that links CEO pay to living wage.
This paper reviews the theories behind employee engagement, generally and in relation to employment in the voluntary sector, and suggests that voluntary organisations face different challenges to other sectors., and that sector employees are looking for other challenges compared to employees in other sectors.
This report summarises our research into employee engagement in the sector, and considers subsidiary themes of leadership job design, career management, performance management and rewards. Working with four major charities and their employee the research explores the correlations between these themes and staff engagement.