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Identifying the emerging talent trends around the world in a new decade can be a challenge. Randstad Sourceright’s Talent Trends survey of more than 800 C-suite leaders and 1,700 professionals explored what companies need to digitize their processes and focus on attracting and retaining needed talent.
Data analytics is altering the way companies conduct business and manage talent. The Talent Trends report indicates that 81% of human capital leaders recognize the critical role that data plays in sourcing, attracting, engaging, and retaining talent. Similarly, 72% of leaders believe technology is helping them make smarter hiring decisions. It comes as no surprise, then, that more than one in five respondents identify talent analytics as a top issue for their organization, the highest of all reported issues.
With the increased role of technology in the workplace, companies are evaluating their internal digital skill sets and responsiveness to digital innovations. Fortunately, the Talent Trends report shows a decrease in concern among C-Suite leaders about the speed of digital transformation. The survey reported that “In 2019, 60% said digital transformation was moving too quickly, but that number fell to 45% this year, reflecting an easing of concerns now that many companies are well into their digital journey.” To minimize harmful disruption, 54% of talent leaders reported an increase in spending for digital HR specialists while 77% say that acquiring more talent with digital skill sets will expand their reach and open up business opportunities.
With the increased role of technology in the workplace, companies are evaluating their internal digital skill sets and responsiveness to digital innovations.
Another trend identified by the report is the need to understand every touchpoint of the talent experience. A vast majority of talent leaders (93%) say that creating a positive employee recruitment journey is critical to attracting and retaining talent, and 80% have plans to improve that experience. Additionally, 63% will seek the support of recruitment process outsourcing to help them achieve their goals in providing an optimal candidate experience.
With technology and digitization altering the skills needed in today’s talent market, the importance of upskilling continues to increase. The Talent Trends research shows that 48% of employers will upskill existing employees to help address gaps in needed talent. Additionally, 38% also view reskilling as a vital strategy to deploy for at-risk employees. This can include investing in learning opportunities and leveraging automation, ensuring that employees feel that their future is an worthwhile investment.
The role of technology in talent management continues to expand, as organizations learn more about the power of data analytics in driving better decision making throughout the talent management cycle. Companies will continue to need to focus on professional development programs that help ensure that their investments in existing employees yield long-term results as needed skillsets change. It’s an exciting time to be in HR and mobility as employers explore new ways to be more strategic in their talent management processes.
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