Business research shows companies not maximising existing workforce skills
Itís clear that a skilled workforce is vital for business performance. However, it is also increasingly clear that in some industries and job functions key skills are becoming scarce.
Itís clear that a skilled workforce is vital for business performance.† However, it is also increasingly clear that in some industries and job functions key skills are becoming scarce.† Recent research by Business Execution software provider SuccessFactors, an SAP company, has shown that many companies are not maximising the potential that already exists within their workforce, which could spell disaster as the war for talent heats up.
Businesses arenít blind to the talent shortage; HR managers across Europe already consider the skills shortage to be their biggest challenge. However, a survey conducted by SuccessFactorsi found that too many companies are failing to develop the talent that lies under their own roof:
∑†††††††† 81% of employees feel they arenít supported in their role
∑†††††††† 83% of employees donít feel their skills are being used to their full potential
∑†††††††† 58% of the surveyed workforce will leave if you donít develop them
Nearly two thirds of employees are prepared to leave their employer due to a lack of training and recognition of their potential. This suggests that employee development is becoming an increasingly vital weapon in the war for talent, as it helps to improve business performance and also prevents a widening skills gap in a workforce. Losing employees is a huge cost to any business in terms of time, cost and productivity, especially when it can be avoided
This is why smart businesses are investing in talent management and staff development strategies. A more engaged workforce is a happier and productive workforce, and is less likely to feel the Ďitchí that makes them an easy target for your competitors as the war for talent heats up.
SuccessFactorsí benchmarking test allows business leaders to see how their company compares to other companies. Immediate recommendations on how to improve and where to get guidance on creating a winning talent management strategy are made after completing the test.
To take the skilled workforce benchmarking test, visit http://www.successfactors-skilledworkforce.com/benchmarking.php.
i ĎThe SuccessFactors Employee Perspectives Snapshot 2012í Ė Conducted by Vanson Bourne
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