Seventy-six percent of companies that aren't already using a total talent approach intend to do so in the next 12 months. (Image: Shutterstock)
An iffy global economy has business leaders contemplating talent as a means of value creation.
That's a key takeaway from the 2019 Talent Trends report from Randstad Sourceright, which also says that HR leaders regard their role in putting together maneuverable workforces and building holistic talent models is more important than in the past.
According to the report, in 2016, just 57 percent of HR leaders aimed to make a measurable impact on business performance through their talent strategy. The remaining 43 percent did not consider talent strategies integral to business growth.
Not any more. These days, 83 percent are focused on that business impact via talent. In fact, 76 percent of companies that aren't already using a total talent approach intend to do so in the next 12 months, and 45 percent are conducting diversity training to minimize unconscious bias and enhance inclusion in the workplace.
Then there are people analytics, with 72 percent of companies relying on them for better acquisition and management of talent while cutting on costs and inefficiencies.
With 80 percent of talent leaders saying their recruitment strategy weighs value creation more heavily than cost savings, talent scarcity is still a chronic concern, according to 76 percent of C-suite and human capital leaders. And 73 percent say they're forming “talent communities” to encourage future talent in the pipeline.
Technology is playing a bigger role in recruiting, too, with 81 percent saying that it makes things simpler and more efficient. That's up from the 68 percent who said so in 2016, 2017 and 2018.
Employers are turning toward a “total talent” approach, says the report, with a more integrated approach to planning their workforce and strategies about how to get work done via both traditional and nontraditional means. And among those who have adopted this more integrated approach, 98 percent say they're extremely or very satisfied.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
