Following on from my recent post on strategic workforce planning, the related theme of talent management seems to be a top concern for HR directors (photo by miggslives). Fortunately, I haven't had to do a lot of research to prove this as China Gorman, former chief operating officer of US HR body SHRM, has done it for me. Gorman looked at six surveys and found that talent was at or near the top of most (I'm cheating slightly by including succession planning under the heading of talent management).
Here is Gorman's list:
- Visier "2012 Survey of Employers: Workforce Analytics Practices, Preferences, & Plans", top HR priority is Performance.
- Lloyd's annual Risk Index (most recent 2011) lists Talent and Skills Shortages as Risk #2 (Loss of Customers is Risk #1)
- Deloitte's 2012 Human Capital Trends lists Growth as #1
- The HR Policy Association (most recent list is 2011) lists Executive Development and Succession at the top of Chief HR Officer concerns
- The WFPMA & Boston Consulting Group survey (most recent is 2010) of global HR leaders lists Managing Talent as the most critical global HR issue
- Human Resource Executive's annual "What's Keeping You Up Now" survey (most recent is September 2011) lists "Ensuring employees remain engaged and productive" as #1
Another survey, Towers Watson's "2012 Global Workforce Study: UK Findings" might help explain this concern about talent. The study finds that Britain's workforce faces a heightened global competitive risk as businesses and employees have reached a standstill, with creativity and career advancement taking a back seat. The study, which included a survey of 2,628 UK workers, found that one in four (26%) UK workers feel "stuck" in their role as their peers put off retirement and the vast majority (77%) said that their ability to advance their career has either got worse or stayed the same compared to a year ago.
Despite this concern among HR directors, CEOs want to cut investment in people, according to a survey by two US management accountancy institutes reported in People Management. The survey shows three out of four CEOs say their firm will cut spending on workforce training, skills and qualifications in the next 18 months, but only about one in six HR directors had this expectation.
If you want to brush up on your talent management know how, you could try the CIPD updated talent management fact sheet which was just been released.
This is part 1 of my latest selection of HR strategy-related articles. For more on talnt management, employee engagement, performance management, leadership and the future of HR read on. Part 2 follows tomorrow with links relating to HR metrics, social media and other topics.
More on talent management
Understanding 'Generation Y'. CEO of Ashridge Business School, Kai Peters, discusses why Generation Y may prove lazier than Generation X. In Gulf Business.
CIPD report: Learning, talent and innovation in Asia
"Don't Recruit Innovators by Using the Mirror" urges Kevin McFarthing on
"The jobs puzzle and the emerging talent crisis" by Kevin Green, CEO of the Recruitment and Employment Confederation.
"Attracting and protecting vital talent is a skill in itself" by Joanne Hinks in HRmagazine.
The HR profession
CIPD opens up HR Profession Map to all, reports People Management. Previously open only to members the CIPD is now opening up the "map" to all. Based on detailed research and consultation with the profession and global organisations of all sizes and sectors, the Map is a framework of the core skills, knowledge and behaviours that form the basis of great HR, according to the institute.
"HR Is NOT a 47 Year Old White Woman!" says China Gorman on Data Point Tuesday. She takes a look at HR professional demographics in the US.
"Do Organizations FEAR HR Control?" asks Ian Welsh on HR Toolbox.
"Rules of Engagement: If you want to engage me, give me control!" By Derek Irvine on Human Capital League.
"Social Pressure Is a Better Motivator Than Money" by Scott Keller on Harvard Business Review blog network.
"Sustainable Engagement isn't an Event, It's an Experience" by Elizabeth Lupfer on The Social Workplace.
"How Employers Drive Away their Employees" by Leigh Branham on American Management Association blog.
Searching for the true leader: David W Sorich looks at what are the essential components of being a good leader. On London Businesss School blog.
"CEO for a Day: Thoughtful Business Leadership" by Nisha Raghavan On Women of HR.
"Leadership Assessments - Self-Scoring vs 360 Degree" by Jennifer V. Miller on Human Capital League.
"Every Leader Is an Artist" by Michael O'Malley on Harvard Business Review.
Future of HR and work
"HR in the 21st Century - #nextchat" by Robin Schooling on HR Schoolhouse.
"The world of work in 2020: a very different place for us all?" By Michael Carty on XpertHR Employment Intelligence.
"The Future of HR: It's All About Making It a True Decision Science" by Ron Thomas on TLNT.
Barclays bonuses to be linked to "way we do business", says new CEO on Grapevine HR.
"Getting 360 Degree Reviews Right" by Jack Zenger and Joseph Folkman on Harvard Business Review blog network.
"Encouraging your people to take the long view" by Toby Gibbs, Suzanne Heywood and Matthew Pettigrew on Harvard Business Review blog network. They argue employees and managers should be measured as much on their contribution to an organization's long-term health as to its performance.