The UK Talent Intelligence Survey reveals that UK companies and HR departments face significant gaps between the information considered important to decision-making and the data that is available to make crucial business decisions.
In all but one type of data, there is a notable gap between the importance UK companies place on certain types of information and the actual access they have to this data.
- 91 percent of respondents want information on the competency/skills gaps in the workforce but only 55 percent have access to reliable data in this area
- 90 percent say that it is important to have information on how individual’s goals are aligned to business but only 57 percent have access to reliable information
- 82 percent consider data on succession bench strength is important but only a minority (41 percent) have access to reliable data on it
The survey, which explores the value that businesses and HR departments place on talent information and its availability, also found that a worrying number of companies do not have access to reliable information on crucial workforce issues. Although most companies measure time to hire, only 33 percent have access to reliable data on the quality of hire and just 55 percent of companies know if they have the skills to execute their business strategy. Furthermore, 56 percent of businesses have no access to reliable data on the top performing employees that are not on any succession plans. Almost half (49 percent) of all respondents do not have any insight into the number of new hires that leave the company voluntarily within the first year.
“Having accurate and accessible information on each employee within a business is a vital part of developing a talent strategy to support the business’ wider goals,” commented Alice Snell, vice president, Taleo Research. “The findings of the UK Talent Intelligence Survey show that managers and HR recognise the need for up-to-date information on all aspects of the workforce; from an employee’s previous experiences to their career ambitions and current performance levels. However, this information is not generally available within many UK businesses. It is important to understand that this type of data cannot be collected as an afterthought or as a separate process. It must be captured as part of a business’ ongoing talent management processes.”
Alice Snell continued, “Businesses can solve this problem by implementing a single, unified talent management system or data model. This kind of system allows users to access and manage talent data as part of the everyday talent management processes of hiring, onboarding, conducting performance reviews and creating development plans for employees.”
For a free copy of the white paper, Taleo will be continuing the discussion at the Talent Intelligence web seminar on the 30th June, register now.