Some 77 per cent of HR professionals are not aware how the potential of their company’s workforce is affecting business performance.
Nearly 600 individuals from the UK, the US, China, Australia and South Africa were surveyed by SHL and the research shows how over three-quarters of those questioned do not realise how important staff members are to the bottom line because they are being deluged with employee information.
When it comes to driving growth, 55 per cent of respondents think engaging talent is key, while 52 per cent want to cultivate strong leaders and 42 per cent view training as essential.
This demonstrates how HR employees working in a serviced office space have a number of factors to consider if their firm is to be successful, including the need to put a successful plan in place.
Ken Lahti, vice-president of product development and innovation at SHL, said organisations usually focus on efficiency data in order to make a strategic talent decision.
“This means key information on talent potential and future capability is overlooked, effectively making targeted programmes that identify the next generation of leaders and nurture talent for critical roles ineffective. This increases succession risk for organisations, putting business performance and continuity in jeopardy,” he added.
The issues of talent management is vital for firms, as it will play a big role in their potential to be successful. Too many HR professionals are finding themselves deluged with information and so eventually this will affect company performance.
According to the study, only 44 per cent of businesses use objective data on employees’ competencies and skills when it comes to making workforce decisions, while only 18 per cent of respondents labelled themselves content with their current talent management strategies.
Moving forward, organisations need to put measures in place that will make it easier for firms to identify their most competent workers.