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Talent Management Trends
PricewaterhouseCoopers' Private Company Services Trendsetter barometer, reported that while the workforce represents almost half (47.5%) of total company budgets, less than a third of the 300 surveyed fastest-growing U.S. companies said they had formal programs in place to retain key employees.
Despite this, 49% of the surveyed CEOs said they are concerned that a shortage of qualified workers could limit the growth of their organization in the coming year, and 38% see the scarcity of skilled and trained workers as potentially creating a barrier in the form of pressure for increased wages.
HRfocus, November, 2006
Talent management has rapidly moved up HR and corporate agendas. In a Conference Board study CEO Challenges 2006: Perspective & Analysis, published earlier this year, recruiting and retaining talent was the top priority for European chief executives. Furthermore, over 80% of employers reported recruitment and retention problems in the Chartered Institute of Personnel and Development's (CIPD) latest annual Learning and Development survey.
The CIPD recently launched a research project on talent management. The survey found that only 38% of employers have a talent management strategy, although the majority are undertaking activities under this heading. The most popular measures include:
A joint study conducted earlier this year by consulting firm Knowledge Infusion and the International Association for Human Resource Information Management, a professional society, polled members and found nearly 78 percent of respondents said they see talent management increasing in importance during the next three years.
On the other hand, the study indicated companies have a ways to go in knitting together their HR software. More than 40 percent of organizations have little or no integration from either a process or technology standpoint, the survey found.
Workforce Management, October 9, 2006
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