According to recent research, senior executives and HR leaders are becoming more motivated by long-term objectives than immediate cost savings or projects.
In a recent study, more than 900 senior executives and HR leaders from 18 nations were polled for its 2023 Talent Trends Report. This year, more leaders than ever before (77%) said that rather than cost-cutting, the primary goal of their talent acquisition strategies would be to maximize the company’s overall worth. This percentage increased in the UK to 68% from 60% the previous year.
Nearly eight out of ten (88%) UK leaders stated that their organization’s talent plan aimed to have a measurable effect on business performance. It is the greatest point since before the pandemic. Seventy-two percent acknowledged the value of worker agility.
With 42% of respondents citing it as a pain point, the global talent shortage remains a problem. With 76% of leaders there citing it as a problem, the UK has the greatest percentage.
Around the world, 76% of leaders emphasize career engagement and reskilling, and 56% intend to spend more on internal mobility tools due to these difficulties. In contrast, only 44% of talent executives in the UK anticipated investing in internal mobility, which is less common.
According to Mr. Varun Khosla, MD of Dynamic Group, “Many leaders are adopting a more people-centric approach, focusing on the talent experience to make sure their teams have the support and resources to grow professionally. At the same time, they are evolving their organizations to be well-equipped to address any business fluctuation or other obstacles.”
He further shared his views saying, “The overarching objective is to become a more agile organization where people are empowered to realize their full potential, thereby delivering a better return for the business due to a greater alignment between workforce strategy and business priorities.”
In spite of worrying about skill shortage, only slightly more than half (52%) of talent leaders in the UK, as opposed to 72% worldwide, use analytics and technology to support their hiring and workforce planning decisions. Only a quarter of companies are increasing their investment in predictive analytics and outside market data to improve their talent strategies.
More than 80% of respondents to the poll stated that the world of talent acquisition was changing and that leaders in this field should now consider issues like mobility, development, career pathways, and skilling in addition to recruitment.
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If you are looking for talent for your organization, get in touch with Dynamic Staffing Services today. You can reach us at +91-11-40410000 or enquiry@dss-hr.com for any assistance with all of your questions and doubts.
