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Human Capital Survey: Insights on Global Transformation

3-1-2008
Eighty-two percent of global human resources leaders believe that the 'war for talent' is a key and enduring business issue over the next 10 years and beyond, yet most are focusing their current efforts on finding shorter-term solutions, according to a recent study from Resources Global Professionals (Resources), the multinational professional services firm.
The research, which is based on a survey of human resources (HR) executives across eight countries in Europe, North America, and Asia-Pacific, found that HR is focused on implementing short-term measures to recruit and retain talent: 90 percent are planning to hire external resources; 60 percent are looking to source offshore talent; and 59 percent plan to increase productivity without recruiting.

"Global corporations see the recruitment and retention of high-quality talent as an issue that transcends fluctuations in the global economy," said Chris Hagler, the Atlanta-based managing director of Global Strategic Services at Resources, the operating subsidiary of Resources Connection, Inc. (NASDAQ: RECN). "This is driven by social factors, such as the dramatic decline in employee loyalty, aging populations, the 'one child per family' policy in China, and different career expectations from younger generations.

"While it is understandable that HR leaders seek immediate solutions to address current problems, our research indicates that few companies have a clear vision of future skill requirements," Hagler said. "Moreover, most employers take a narrow, local view when considering demographic trends. Long-term measures such as strategic workforce planning are off the radar of HR leaders, who could benefit from workforce planning scenarios that consider a worldwide labor pool."

Other major findings from the survey include:
    • Boards still need to see the value of HR
    • Leadership development is a high priority for HR Leaders
    • There are relatively low levels of HR process outsourcing

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