Retaining the talent within organisations is the number one challenge for senior HR managers in 2008, according to a survey by talent management solutions provider Taleo. The findings echo the trends of a similar survey conducted in 2007.
The survey, ‘HR Challenges in 2008’, asked more than 200 senior HR managers in the UK about their biggest challenges in the coming 12 months, what tools they need to help optimise HR performance, and their HR budget expectations.
Survey findings indicate that recruiting and hiring are priorities for UK HR managers this year. When asked to select their top HR challenge going into 2008, the following trends emerged …
• Keeping it in the company – 30% cite “employee retention” as their top challenge for 2008.
• Recruiting the right staff – 23% cite “hiring the best talent in the marketplace.”
• Attracting candidates – 11% cite “attracting candidates to the organisation.”
• Keeping it legal – 11% cite “complying with new legislation.”
Additional challenges listed include: succession planning (10%); career development management (5%); cutting recruitment costs (4%); gaining boardroom support for HR (4%); and increasing the internal mobility of staff (2%).
When asked about tools and budgets for 2008, the top responses indicated:
• Performance Management tools are key – Nearly half of respondents (44%) say “a system to improve performance management, succession and career planning in your organisation” will help them do their jobs better. Additionally 21% want “an easy way to measure the effectiveness of HR processes like recruitment,” followed by 15% seeking “better visibility into employee’s skills.” Additional responses include: reduced dependency on recruitment agencies (8%); systems that aid compliance with regulations (8%); and a system to improve the effectiveness of the recruitment process (4%).
• In the money – The majority of respondents expect their budgets to remain the same (46%) or increase (33%) in 2008. Only a small percentage of respondents (21%) expect their budgets to decrease in the coming year.
"HR is experiencing sustained pressure to recruit and retain the best people in a market where employees are increasingly calling the shots. In response, boards are increasing HR budgets and HR executives are looking for technology solutions to help them solve their recruiting and retention challenges" said Neil Hudspith, senior vice-president international, Taleo.
Comments (2)
Posted by Jan Hills | February 4, 2008 4:28 PM
This survey raises some questions for me. There is little or no reference to the business priorities, how HRs can align themselves with them, and why retention and recruitment should be a priority. With all the doom and gloom about the economy it is rather surprising that retention and recruitment is the main focus of senior HR people. What can this be attributed to?
Is HR out of contact with current economic trends? In my opinion the survey demonstrates HRs need to be in contact with the economy, its impact on business and for HR to be able to adjust their plans in response to this. For example should HR be more focused on analysing where economies can be made whilst improving productivity rather than hiring? Or are the media perhaps over egging the economic doom which is why HR is choosing to keep focused on hiring and retaining the best people and grinding the recruitment wheel?
Whichever the answer, clearly Talent Management is key. HR needs to know who the business’ key employees are, how they make profits for the business, which customers they impact and their commitment to the organization. HR must also know what either slows up the business or increases profit; this means not just knowing the numbers in the business, but the key levers and competitive strengths and weaknesses of that business. This is a critical understanding for the HR person who wants to make the most valuable contribution come economic gloom or shine
Posted on February 4, 2008 16:28
Posted by simonoaks | August 12, 2008 2:20 PM
I agree with the comment regarding HR's role in defining and managing organisational Talent needs based on a company's key deliverables. This could be IT, sales, consultancy, finance etc. It is important that HR are key stakeholders in all business drivers and processes.
There is a new product on the market ( www.zubed.com ) that I hear is creating quite a stir. It enables a company to search, plan and map all its Talent using the most advanced AI software and functionality. Its siter product www.zubedjobs.com is a free talent aquisition website and has been reviewed by profressional recruiters here:
http://www.therecruiterslounge.com/2008/07/11/cool-tool-zubed-i-think-i-love-you/
http://cuberules.com/2008/08/08/update-zubed-isnt-scary-it-rocks/
Posted on August 12, 2008 14:20