Companies struggle to cultivate talent

As the war for talent heats up, companies will have to put more work into finding, recruiting, and retaining talent.

Our research shows that currently, most are not doing what it takes to keep their employees at the company—and in fact, most do not seem to expect them to stay for long. Executives are not filling roles from within the company, and most do not consider loyalty an important part of their talent strategy or plan for continuity in key roles.

Succession planning 12 15

Executives may be underestimating employees’ willingness to follow a set career path within the organization: our survey shows that many employees are concerned about a lack of opportunities for advancement within their companies and are looking for more learning and development opportunities from their employers.

The first step for companies looking to cultivate leadership may be to better understand what employees’ career goals are. Setting up mentoring programs—formal or informal—as well as regular meetings to discuss development opportunities may help define a career path and show executives which employees are most suited for advancement within the business. In the long run, those companies who cultivate loyal, skilled talent from within will have a better shot at success in the war for talent.

Advertisements

Finding—and keeping—top talent

According to our survey, the need for employees with technology skills in areas like analytics, cloud, and programming will increase over the next three years. What does it take to attract top talent that meets companies’ increasingly tech-based needs?

A recent article from CIO magazine talks about some of the ways tech firms are trying to recruit elite developers. The top tactic? Money—and at many companies (mostly those based in New York and Silicon Valley), a lot of it.

What will happen if compensation turns out to be only a temporary fix for retaining talent? How important is personal satisfaction with work when the excitement over creative perks and compensation wanes?

Our survey looks at these issues and more—we’ll have answers about the benefits that matter most to employees, along with data on what companies are actually offering, in the next few weeks.

Human factors determine SME success

smeIn 2013, Oxford Economics and SAP surveyed 2,300 executives across 23 countries and five industries to determine how small and mid-size businesses around the world are leveraging technology to boost innovation, strengthen customer relationships, improve agility, and expand their businesses.

Along the way, we looked at how the supply of skilled workers and the development of a healthy company culture contribute to growth in a technology-dependent global economy.

You can learn more about SMEs’ need for skilled talent in our think piece, The Human Factor, and in the infographic below.

smeinfographic