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.