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Finding Mr. or Mrs. Right: Talent management becoming ever more important
Finding the right employee: talent management gaining in importance
How difficult finding suitable management and skilled personnel can be is something German firms are experiencing more and more often. But German firms are by far not alone in this. According to a global survey conducted by the Boston Consulting Group, the same applies to companies the world over. Just how important talent management is to them, can be see by the fact that in 9 of 17 countries surveyed, talent management was seen as the number one HR challenge facing them, and counted among the top three HR challenges in 14 countries of this 17.
“Whether power plant technician or IT programmer: finding and retaining qualified personnel will soon be more difficult than raising money by going public”, says BCG senior partner and survey co-author Rainer Strack. Companies which offer capable employees the right prospects and run the right human resources strategy are clearly ahead of the competition.
One key finding of the study was the importance attached to work-life balance and the availability of flexible working times. Together with the World Federation of Personnel Management Associations (WFPMA), Boston Consulting had carried out a survey among 4,741 executives in 83 countries titled “Creating People Advantage: How to Address HR Challenges Worldwide Through 2015”.
In addition to work-life balance, managers’ qualifications also ranked high among the respondents. Whether in Germany or abroad, the survey made it clear that managers frequently fail to meet the high expectations qualified employees have of them. The psychological strain associated with this appears to be somewhat higher in countries outside of Europe.
A management summary of the survey can be found on Boston Consulting Group’s website. Click here to download the summary.