SilkRoad Releases State of Talent Management 2014 Report
SilkRoad, a leading global provider of cloud-based social talent management software, recently released its annual “State of Talent Management 2014” report, which sought to answer the question, “How well-positioned are HR professionals to tackle key challenges in 2014?”
Based on a survey of more than 3,743 HR professionals, the report discovered four foundational challenges that HR and L&D professionals face this year:
1. Implementing integrated human resource technology
2. Getting accurate data for a clear picture of the organization
3. Converting data-driven insights into strategy
4. Securing a business role on leadership teams so that HR and L&D expertise is recognized and valued.
Other findings from the report, include major topics, include:
- The majority of respondents (56%) reported that they were either very concerned or concerned about attracting top Millennial talent as Baby Boomers retire. Only 10 percent were unconcerned.
- Nearly two-thirds (63%) of respondents said they were concerned about staying current with evolving compliance laws and regulations.
- Forty-seven percent of the above group was concerned with ensuring that employees have appropriate training to avoid lawsuits and having the data readily available for compliance reporting.
- Just 13 percent of respondents reported they “map out a career path based on the company’s needs and the employee’s future career ambitions.”
- When asked about performance’s biggest challenges, HR professional said issues were with it being perceived as a yearly tactical event (46%) as opposed to part of the strategic business process, as well as managers lacking the necessary skills to coach employees (43%).
- The three top concerns of professionals about HR management include engaging and retaining employees (48%), developing leaders and managing skills gaps (45%) and recruiting the best employees (41%).