Organisations are set to boost their focus on talent management in the areas of leadership, succession planning and career path development over the next three years, according to new research.
Consultancy firm Towers Watson’s global talent management and rewards survey revealed that most firms were having trouble attracting talented staff and those with the critical skills needed to help them rebound after the financial crisis.
According to the survey, nearly two-thirds of companies globally and around 80 per cent of participating firms within the Asia Pacific had reported problems attracting employees with critical skills.
Six in ten companies worldwide and over 70 per cent of Asia Pacific respondents said they had difficulty luring top-performing, talented employees.
“Talented employees in Australia remain highly mobile and companies need to differentiate the employment deal they offer,” Towers Watson Australia talent and rewards managing director Hamish Deery said.
“Talent management, inclusive of succession planning and career path development, is key to the employee experience as well as to companies being able to deliver on their business strategy.
“Australian employers need to focus on these to hold on to their greatest talent and attract the best new talent.”
The survey was conducted in May and June and included responses from 1176 companies from 23 countries.
Talent management programs aim to attract, retain, motivate and develop employees, and to create alignment between employee actions and the behaviors required to support an employer’s business strategy, according to Towers Watson.
