Top talent is hard to find
The biggest challenge for HR managers is talent acquisition, says our survey
Are organisations equipped to deal with the challenges that the current global economic situation is throwing out? According to an online survey by HT-Shine.com and AbsolutData, the biggest challenges for HR managers today are talent acquisition and employee engagement. In this survey, 350 HR professionals (manager-level and above) and 1200 other employees were contacted. Leadership and development lags behind these factors, as does determining compensation and benefits. Perhaps this reflects the inverted prism in which HR operates today.
The pull factor: It’s hard for companies to retain employees for long. Over 60% survey respondents indicated they would move on
after a year
Almost 80% of the HR managers believe that in the present global crisis,
employee engagement and retention has become tougher. This is
corroborated by over 60% employees, who are not planning to stay on in
their current jobs for more than a year.
More than half of the HR managers agree that talent acquisition has become tougher and hiring at senior and middle levels has either been reduced or
delayed. With acquisition becoming difficult, diversity seemed to be the solution to the problem. However, only 15% of HR managers agreed that diversity helped them access a wider talent pool. Diversity was viewed more as a means to foster a better work environment and enhance productivity, by more than two-thirds of HR managers. Only about half the HR managers said that their organisation had a formal diversity policy in place.
More than half of the HR managers said that their target reviews
are gett ing revised more frequently but only a quarter of employees
were aware of the changes introduced.
Companies are revising remuneration packages with variable pay becoming a larger component, say almost half the HR managers. Again, only a quarter of employees are aware of these changes. This points to a significant gap between intent and perception for HR today.
This gap is also apparent in employee engagement measures introduced by the HR. While over two thirds of the HR managers believe their organisation offers an open line of communication with employees, only a third of employees actually agree.
Other variables of employee engagement where there is a significant gap of over 20% between HR perception and employee outlook include skill building, training, having a clear outline of performance benchmarks and, surprisingly, even fun events organised by companies.
This data shows that HR managers need to increase their efforts towards bridging the gap between perception and reality and emerge as an anchor to manage change in the present dynamic business environment.
Companies are revising remuneration packages with variable pay becoming a larger component, say almost half the HR managers. Again, only a quarter of employees are aware of these changes. This points to a significant gap between intent and perception for HR today.
This gap is also apparent in employee engagement measures introduced by the HR. While over two thirds of the HR managers believe their organisation offers an open line of communication with employees, only a third of employees actually agree.
Other variables of employee engagement where there is a significant gap of over 20% between HR perception and employee outlook include skill building, training, having a clear outline of performance benchmarks and, surprisingly, even fun events organised by companies.
This data shows that HR managers need to increase their efforts towards bridging the gap between perception and reality and emerge as an anchor to manage change in the present dynamic business environment.
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