Talent edge 2020: Blueprints for the new normal
The first report of Deloitte’s new survey series 'Talent edge 2020' features results from a survey that polled more than 300 global business executives across industries. The report highlights that as companies worldwide struggle to move beyond the great recession, many executives recognise the need to develop talent strategies to meet the demands of the ‘new normal’. With trends such as globalisation and the aging workforce gaining traction during recession, global talent leaders are now focused on finding the right balance between economic realities and investment requirements as they position their companies for success in the next decade.
- The talent paradox is already creating key shortages: High unemployment rates have not created the talent surplus as predicted. On the contrary, many executives predict talent shortages across key business units.
- Companies are increasingly challenged to develop the next generation of leaders: With the retirement of Baby Boomers, many executives are concerned over their companies’ leadership development programmes and pipelines.
- The race for talent is global: Once-emerging markets of the pre-recession days have become the catalyst for future growth, placing tremendous demands on talent managers to get the new people in new jobs at new locations.
- “World Class” talent leaders are pursuing a different agenda: Executives who describe their company’s talent programmes as “world class” appear to have a different set of priorities and a stronger focus on long-term talent investments.
- Companies with retention plans in place are moving beyond anxiety and taking action: Even though most executives are concerned about retention, only those companies with an existing retention plan are moving beyond anxiety and focusing on initiatives.
Deloitte’s 'Talent edge 2020' longitudinal survey series will continue to track the shifts in talent strategies, trends and priorities in the months ahead. The next edition of the study will focus on exploring talent strategies, trends, and concerns from the employee perspective and will be published this coming Spring.