Talent Demand High, Supply Low

The 2016 Talent Trends Report, created by Randstad Sourceright, is a look into trends affecting talent, employees, and business for the upcoming year. This year’s report, released Monday, analyzed the responses of almost 400 HR directors, talent, and business leaders to address any challenges organizations may face and ways to meet those challenges.

According to the results, the shortage of available talent could negatively affect business outcomes and leadership continuity. In addition, organizations may increase their spending on talent acquisition and a stalling of business growth.

Some of the key findings of the survey include:

  • Overall, 85 percent of respondents believe an integrated talent management approach in which workforce planning encompasses all types of talent (permanent and contingent alike) will enhance the resources their businesses need to drive growth.
  • The use of talent and workforce analytics continues to increase, with 73% using this data to create more efficient workforce planning, 63% for more accurate mapping and addressing of skills gaps and 56% to clearly identify high-potential employees for development.
  • When asked about the biggest trends impacting the future of work in the next 5 to 10 years, 85% responded with need to create greater flexible working options to attract mobile talent, 78% with the ability to analyze internal and external employee data to source and retain talent, and 74% said the challenge of keeping pace with evolving technology to enhance workforce productivity and performance.

The report also included tips on how to structure talent practices that will follow local markets:

  • Develop local knowledge
  • Keep abreast of regulatory developments
  • Get input from suppliers
  • Consult with service providers
  • Survey existing talent

Read more here and here.