Over half (53%) of executives we surveyed say workforce development is a key differentiator for their firm; despite best intentions, most do not have the tools and organization to back it up. In fact, just 38% say they have ample data about the workforce to understand their strengths and potential vulnerabilities from a skills perspective, and 39% say they use quantifiable metrics and benchmarking as part of their workforce development strategy.
What’s more, only 42% say they know how to extract meaningful insights from the data available to them. And C-suite executives are more likely than HR executives to say their firm uses quantifiable metrics and benchmarking as part of their workforce development strategy, suggesting further strategic misalignment.
The bottom line? Companies are not making progress toward meeting their workforce goals–just one-third say they have made good or significant progress–and the lack of metrics and analytics capabilities could be holding back their progress.