Talent management and retention top of the agenda for HRDs; Almost half of HRDs see a lack of fresh talent entering the organisation as the biggest threat; HRDs and employees disagree on the importance of flexibility in driving engagement.
As the UK economy bounces back to pre-recession levels, Human Resources Directors (HRDs) have revealed their top challenges and threats, in an annual survey into the opinions of HRDs. ‘A lack of fresh talent entering the organisation’ was named the single biggest threat (47 per cent), followed by cuts or lack of recruitment (39 per cent), and a lack of training and employee investment (38 per cent). The research forms part of The Workforce View 2014/15 report by ADP©, a leading global provider of Human Capital Management (HCM) solutions. Based on independent research among over 2,500 employees and over 200 HR Directors, the annual barometer gives a comprehensive view on employee attitudes about work and explores the fit between HRD and employee priorities. When asked to name the top three challenges they face in the coming year, HRDs listed talent management and retention, followed by succession planning and increasing employee engagement.
More than one third of HRDs recognise ‘talent management and retention’ as their main concern (up from 31 percentin 2013). ‘Succession planning’ came a close second with 33 percent(up from 25 percentin 2013), followed by ‘increasing employee engagement’ (30 per cent; 23 percentin 2013). While the order of priorities was the same just a year ago, these issues have increased in importance, reflecting the new phase of growth the economy and organisations have entered.
Employee engagement plays an important role in overcoming these challenges and the survey reveals some important differences in the views of HRDs and employees’ with regards to the top drivers for engagement. HRDs appear to place much more weight on ‘praise and recognition’ as a motivating factor than employees, while 30 percentof employees opt for flexibility and name ‘the ability to work when and where I want to’ as the most important factor. Just over a fifth (21 per cent) of HRDs identified their chief focus as enabling employees to work flexibly.
Annabel Jones, HR Director at ADP UK, said: “It is evident that HRDs are faced with the challenging task of balancing a number of strategic priorities. The workplace is constantly changing, and it is more important than ever for HR to be creative in developing new ways to secure, engage and retain talent. By keeping up with, and offering insight into, the latest workforce trends, HR professionals have a significant opportunity to make a real contribution to business success for years to come.”
