The European long-term weather report on talent management was summarized in a study for the European Club for human resources (EChr) by Hewitt Associates. In our post-recession environment, the outlook on the horizon is better but there are challenges that may erupt to cloud the skies.
Among the results of the 5th European HR Barometer:
On the upside, corporate growth plans are putting back more focus on selected human capital development measures – including the prospect of newly created qualified jobs – as well as the opportunity to measure and leverage HR’s value to the business more effectively. On the downside however, concerns remain regarding productivity gaps, workforce adequacy, and rigorousness in people management policy implementation.
Pressures to reduce costs continue and can be met with talent management practices. Desires for HR to become a closer business partner, find ways to add more value to the business, and increase employability rates with EU help were also mentioned.
Strategic priorities were ranked as follows:
Leadership development (46%)
Employee engagement (39%)
Talent retention (32%)
These areas can be addressed with a unified talent management approach across recruiting, performance, development, and compensation backed by talent intelligence.
