Managing Talent Will Be Even Tougher in 2011
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Managing Talent Will Be Even Tougher in 2011
PHILADELPHIA, PA – Several trends are expected to make the mission of talent management even more challenging in 2011, according to Douglas Matthews, President and Chief Operating Officer for Right Management. Right Management is the talent and career management expert within ManpowerGroup, the world leader in innovative workforce solutions.
- “Retaining, recruiting and managing high performers will become more difficult and complicated in the new year,” said Matthews. “We already see the signs from both job candidates in our programs as well as directly from client companies. And we’re finding it in our research. Concern is growing because talent is increasingly the only sustainable differentiator organizations have. Developing and pursuing a coherent talent management strategy is essential to executing on business strategy.”
- Matthews cited four critical trends that will affect talent management:
Talent will look elsewhere for opportunities. In a recent poll of 1,400 workers Right Management found that 84% plan to look for a new job in 2011. While the finding may not actually translate into turnover at such a high level, it no doubt reflects widespread discontent and frustration among employees after two years of recession. Any employer that does not recognize the mood will suffer by the oversight. - Competitors will contact more top performers. In another Right Management survey of more than 3,000 individuals it was found that many have already been approached by another company to discuss a job opportunity. Indeed, among those with managerial titles or higher 56% report getting such an inquiry. This trend is will unquestionably increase and poses enormous risks for talent managers.
- More employees will work virtually. When we asked 330 employers about their virtual workers we found that three out of four already have people who work remotely, and of those employers nearly half expect their number to increase or significantly increase during the year ahead. But not every employee is suited for virtual work, so trend is certain to pose new challenges for organizations that need to permit such greater latitude while at the same time insuring performance and results. Moreover, specialized training may be needed for many new virtual employees.
- Hiring may revive, but will be harder to get the right people. ManpowerGroup’s Employment Outlook Survey for first quarter of 2011 reports that 14% of employers plan to hire staff, while the majority (73%) anticipate no change. Savvy candidates bring higher and higher expectations to job interviews. They not only want flexibility about how, when and where they work, but are also impatient about growth opportunities. While none of this is really new, their impatience is notable. Yet organizations must find the key motivators in every case.
The research findings should serve as a warning on what is ahead, Matthews believes. “Like everyone else, senior HR executives are anxious for improved economic conditions, but they also realize that their job will become ever more stressful and challenging. So far a lot of companies have been able to hold onto their best people because of the downturn, and they’ve been able to curtail development programs for the same reason. And now they’re worried about keeping their high potentials amid the turmoil ahead.”
About Right Management
Right Management is the talent and career management expert within ManpowerGroup, the world leader in innovative workforce solutions. Right Management helps clients win in the changing world of work by designing and executing workforce solutions that align talent strategy with business strategy. Our expertise spans Talent Assessment, Leader Development, Organizational Effectiveness, Employee Engagement, and Workforce Transition and Outplacement. With offices in over 50 countries, Right Management partners with companies of all sizes. More than 80% of Fortune 500 companies are currently working with us to help them grow talent, reduce costs and accelerate performance.
Media Contact: Shari Fryer, Shari Fryer & Associates, 970-846-6607 or shari@fryerassociates.com.
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