Over the last year, the talent management space has undergone a lot of change. From deeper integration of talent management and training software to a huge dependence on social recruiting, trends are starting to emerge. Identifying top talent now means looking at new solutions and offerings, redefining competitive advantage, and restructuring talent strategy.
Trend #1: Managing Confidential Data
The well-publicized recent breaches of employee data in major companies has highlighted the vulnerability of private HR information. Talent management professionals and IT departments are looking for software that will offer levels of data access for different categories of users.
Trend #2: Mobile Talent Management
Driven by a competitive labor market and the demand for tech-savvy workers, mobile recruiting applications are being a must have for talent management organizations. Also increasing in popularity are mobile learning applications, which offer access to training and development from anywhere at anytime.
Trend #3: Engagement and Retention
In December 2014, according to the U.S. Bureau of Labor Statistics (BLS) there were 4.7 million job openings, but more than half of employers said they could not find qualified candidates. Failure to engage and retain top talent threatens the future growth and competitiveness of both large and small companies. Multiple surveys indicate that HR leaders feel responsible for building a culture of engagement that will attract and retain workers.
Trend #4: Talent Strategy
A recent study by the Cranfield School of Management found that many organizations lack a cohesive talent management strategy. While the topic is talked about regularly by HR consultants and executives, only 46 percent of the 546 HR and talent management professionals surveyed said they had a talent management strategy. Of this, only 29 percent felt that their talent management strategy was working well.
According to the study, organizations are increasing their spending on training and development, performance management, and succession planning. However, they are reducing the amount spent on recruitment, which suggests that companies are focusing on developing internal talent as their primary tactic for filling key positions.
Current Priorities for Talent Management (percentage of organizations)