| | Finding, developing and
keeping talent are among
the top concerns for HR
executives for 2007,
according to the ORC
Worldwide HR Priorities
Survey, which annually
polls a group of global
HR executives from a
cross-section of
industries.
Six out of 10
respondents (61.7%) said
the most pressing
strategic HR issues
companies will face in
2007 fall into the realm
of "talent management".
Accordingly, talent
management, which
encompasses acquisition,
assessment, development
and retention of key
talent, is the top
category that will
consume senior HR
executives' time in 2007
(as stated by 33% of the
respondents). Following
talent management, 23.1%
of the respondents
anticipate that
transforming and leading
the HR function will be
a key area of focus, up
from 17.2% in 2006.
"The real driver for
this focus on talent
management is that
companies have not only | |
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| | recognised the value of
talent as a competitive
advantage, but they are
developing the tools and
processes that help
optimise organisation
capacity and
performance," said ORC
worldwide president
Robert Freedman.
Rounding out the "top
three" HR priorities for
2007 are activities
related to cultural
transformation (as
stated by 7.7% of
respondents).
"In the past few
years, we have seen HR
executives become
increasingly focused on
activities related to
cultural
transformation,"
continued Freedman.
"Performance management
and
'pay-for-performance'
programs are among the
important tools in
transforming culture,
and we have seen our
consulting work increase
in those areas."
In addition, HR
executives foresee
continued
responsibilities in
supporting the board of
directors and the senior | |
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| | management team as
changes in regulatory
and reporting
requirements, such as
the Sarbanes-Oxley Act,
continue to demand their
attention. Respondents
also anticipate
activities related to
supporting company
growth and expansion as
an important area of
focus in 2007.
HR executives
reveal "preparedness"
gaps
Survey participants
were asked to consider
common categories of HR
responsibilities and
initiatives, and rate
the importance of the
emerging HR issues of
most significance to
their companies on a
scale of 1 to 5. Among
the most important
issues ranked were
leadership development
and succession planning,
HR technology, workforce
planning, executive
compensation and
diversity, respectively.
For these same
categories, however,
capability ratings were
consistently lower than
those for importance, | |
|
| | indicating that HR
executives' current
capabilities will need
to expand by securing
additional resources,
both internal and
external.
"Global companies are
increasingly concerned
about locating
sufficient supplies of
talent in challenging
places such as China,
India, Eastern Europe
and Brazil," said ORC
worldwide director of
talent management Jodi
Starkman. "We are being
called upon by clients
to help them develop a
global workforce – and
leadership – that can be
deployed where and when
needed to meet changing
business markets and
operating requirements.
Part of our undertaking
is to provide clients
with the necessary
processes and tools to
guide planning and
operational
decision-making related
to managing talent, from
workforce planning and
acquisition to
development, assessment,
and reward and
recognition."
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HR priorities vary
by company size
The ORC survey
revealed that medium and
large companies,
spanning from 10,001 to
more than 70,000
employees globally,
continue to view
leadership development
and succession planning
as top HR issues.
Meanwhile, the smallest
companies, with up to
10,000 employees
globally, rated
diversity as a top
emerging HR issue.
For the largest
companies (more than
70,000 employees
worldwide), globalising
HR policies and
programmes was the third
most important emerging
issue for 2007, with an
average importance
rating of 4.63 (out of
5). This is consistent
with findings that HR
executives anticipate
focusing efforts on
activities that will
support company growth
and expansion – both of
which benefit from more
consistent global
practices.
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