HR professionals need to identify more creative approaches to talent management to stay ahead of the competition, a new report suggests.
The survey, by HR consultancy Hewitt Associates, asked senior HR professionals at just under 140 organisations how they believe economic, demographic and technological developments will affect the workplace.
While it is clear that some HR professionals are already rising to the challenge, only a few are coming up with the far-reaching solutions needed, the survey says.
One of the key findings is that the battle for talent is intensifying, with 60% of companies currently experiencing significant problems in recruiting key talent from traditional sources.
More than 90% of respondents also believe the situation will get progressively worse and that the competition to recruit key staff will be stiffer in five years.
More than half say there will be a smaller pool from which to recruit employees for key positions. Despite this, only a quarter of companies use predictive workforce planning.
Sharon Mattingly, a member of Hewitt Associate’s senior leadership group for HR Consulting, said: “Given the intensifying war for key talent, the advantage will lie with companies that use a range of approaches to identify and track the talented staff in their organisations – and then nurture them.
“The ability to do this could be a key differentiator in managing the next generation of talent. HR departments must step up to the challenge and prove their strategic value to the business.”