New research, by employee assessment firm Talent Q, reveals that over half (55 per cent) of UK organisations are anticipating increasing their investment in talent management in the year ahead, up 15 per cent on 2009. The results of Talent Q’s latest annual talent management survey suggest increased confidence across nearly all sectors and proactivity on the part of the HR community in leading their organisations out of the downturn.
Talent Q’s second annual survey canvassed the views of 225 senior HR professionals, which together employ some 10 per cent of the UK’s workforce, on a range of talent management issues. The overall findings seem to back up Prime Minister Gordon Brown’s recent comments on ‘encouraging signs’ in the jobs market and may be a further indication of the end of the recession.
However, the Talent Q report also reveals that further headcount reductions are still very likely, especially for larger organisations. Of the employers which responded to the survey with 50,000+ employees, almost 50 per cent intend to make further cuts during the next 12 months.
Attitudes to talent management strategy over the next 12 months were distinctly more positive when compared with results from 2009. Respondents reported that they would be implementing changes, with only 26 per cent reporting that strategy in this area would remain unchanged (compared to 38 per cent in 2009).
Looking to the next 12 months, organisations report their intention to adapt their talent management strategies in preparation for the economic upturn which includes increased investment in the development of their existing talent pool, redefining what they look for in new employees, and a drop in intention to reduce headcount.
Dr Alan Bourne, director of Talent Q, said: “The stated intention to increase expenditure on employee development is a welcome message, indicating a renewed focus on existing talent within organisations. The intention to re-examine what is required in new hires is also a positive response, indicating that organisations are taking on board some of the lessons of the past few years.”