In a survey by people assessment firm Talent Q, developing high performing teams is cited as the primary challenge facing two-thirds of employers over the coming year. Recognising the increased importance of getting the best out of existing employees during the current economic crisis, the survey also revealed a widespread need to identify and develop potential.
With recession-led redundancies a possibility or already a reality for many companies, succession planning and managing talent through change are also priorities. The flipside of increasing unemployment however, is that half of those taking part in the survey see the ability to select from an increased external talent pool as a major issue.
The Top Ten HR Challenges
Developing high performing teams 66%
Succession planning 55%
Managing talent through change 54%
Finding/sourcing talent externally 51%
Developing high potential 48%
Managing performance 46%
Engaging people 44%
Assessing best talent to join organisation 43%
Identifying high potential 43%
Selecting best for internal moves 42%
Priorities differ considerably depending on the sector. Financial services organisations are unsurprisingly much less focused on sourcing new employees externally, whilst this remains a significant concern in the manufacturing and utilities sectors. Engagement is a priority in the public sector, as are developing high performance teams and identifying talent.
“Identifying and developing high performance may have been relatively neglected during the recent ‘war for talent’,” comments Dr Alan Bourne, director of Talent Q. “But the new tougher economic environment makes it critical.”
Assessment techniques can play a major role in helping to meet these and indeed all the human resources challenges spotlighted in survey, and are particularly powerful if they are part of an integrated talent management process. Yet it seems many employers are missing a trick here.