Attracting, Developing, and Retaining Talent in the Modern Workforce – Are You Ready?
Changes in the world of work, evolving employee expectations, and advances in technology are creating a perfect storm that is transforming today’s workplace. Pitched against a backdrop of growing skills gaps, the pressure on organisations to rethink their talent approach – and systems – is intense.
The Fosway Group, in partnership with Skillsoft and SumTotal, recently undertook a research project designed with the single aim of shining a spotlight on the realities of the modern workforce. What we found is both compelling and illuminating. If you feel your HR, talent, and learning efforts are behind the curve when it comes to dealing with these challenges, then you’re not alone. Our research shows that only 44% of professionals feel their talent management strategy is “ready.”
After 20 years of analysing HR, talent, and learning data, it’s been fascinating to take a deeper look at the macro environment and the key factors affecting organisations today; most of which are completely outside our control. But if they aren’t acknowledged and adapted to, will leave organisations without the people and the skills needed to take them forward.
Some key findings from the research include:
- In only 16% of cases is organisational culture not a barrier to when looking to improve talent management processes.
- 86% find managers’ skills and attitudes an issue when meeting the expectations of the modern workforce.
- In the most vulnerable areas of digital, soft skills, leadership, and management skills, less than 15% of respondents think they have all the skills they need to succeed today, never mind tomorrow.
- Around 67% of our survey respondents say that workers now need to learn – and get up to speed – more quickly.
- 44% report that employees are working more often using a mobile device as their primary tool.
There are so many buzz words swirling around our industry at the moment – gig economy, Millennials, skills shortages, war for talent…the list goes on and on. Behind the hype are some stark realities for HR, talent and learning professionals. We need to respond positively to really engage with the workers of today – and tomorrow.
David Wilson is the CEO of Fosway Group.