Global Talent Survey highlights urgency to review talent processes

Global Talent Survey highlights urgency to review talent processes

How employees are managed is being increasingly effected by business growth, with the ever increasing need to employ the best candidates from a more demanding employee population.

However, reports of a lack of development, manager discontent and outdated talent processes, are leading to a distinct feeling of employee dissatisfaction, according to Mercer’s 2016 Global Talent Trend Study.

This study is the first of its kind to question both employers and employees.

A huge 85% of organisations believed that their talent management systems required reviewing, even though 70% of participants stated their confidence in filling critical roles with internal applicants.

Meanwhile, 28% of employees planned to leave their current roles within the next twelve months, despite being content in their position.

Although it is clear that managing such difficulties requires additional support, just 4% of those working in HR believe that their HR function is used as a strategic business partner within their company.

Ilya Bonic, Senior Partner and President of Mercer’s Talent Business added:

“Employers are experiencing ever-growing competition for labour. At the same time, unemployment remains high in many countries around the world. The issue goes well beyond lack of available talent,”

“It’s a lack of the right talent where and when it is needed to drive competitive advantage and deliver business results. For talent that has analytic skills, inspirational leadership capability, and a global mind set, demand continues to exceed the supply.”

Kate Bravery, Partner and Global Solutions Leader for Mercer’s Talent business continued by stating:

“Employees today have more options than ever before. They are demanding a new value proposition that combines greater career support with flexibility to manage their work and more opportunities to develop their skills.

HR professionals are challenged to meet employees’ demands and achieve a talent advantage, especially if they don’t have a seat at the table – and this is crucial if they are to remain a viable part in the talent ecosystem.”

Top Priorities and workforce trends

Effective talent strategies require an organisation’s ability to inspire, engage and retain employees of different gender, race, age and backgrounds, in order to be successful in today’s global environment.

Mercer’s study tells us that the third most crucial workforce trend is leveraging an increasingly diverse labour pool.

Other trends impacting businesses included the rising competition for talent from emerging economies, as well as talent scarcity.

While 73% of businesses working towards diverse leadership teams, only 54% of employees believing that their organisations have effective programmes in place to achieve such goals.

The apparent importance that has been placed upon developing such teams has therefore not been translated into action.

“Bridging the gap between employee and employer views will require substantial changes from HR,” said Bravery.

“This includes improved operational capabilities around talent sourcing, enhanced tools and managerial capabilities to deliver a compelling career proposition, and proficiency in workforce analytics for a data-driven approach to managing talent flows.”

It is clear that employers must ensure that their efforts to build the workforces of the future, have a tangible impact on both productivity and attraction.

Further findings from Mercer’s study showed important areas in need of addressing:

  • Simplify talent processes
  • Redefine the value of HR
  • Build diverse talent pools
  • Architect compelling careers
  • Embrace the new work equation

Mercer’s 2016 Global Talent Trends Study looks into the top trends impacting today’s workforce and how organisations are responding.

The study, which includes the opinions of both employees and employers on key workplace issues and priorities, is based on the viewpoints of more than 1,730 HR leaders and over 4,500 employees across 17 countries in all industries.

For more information or to download the full report, click here.

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