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Talent Gap Looms for Large Enterprises

By Dennis McCafferty on 2012-01-19


CIOs and other top organizational executives foresee a global talent shortage looming for the next several years, according to recent research from Deloitte. The consulting firm released the results of its survey in a new report, "Talent Edge 2020: Redrafting Talent Strategies for the Uneven Recovery." When it comes to adequately appointing leaders and staffing key operations, the report says fallout from the talent shortage could be significant. In addition, retaining younger workers has emerged as a key issue for many organizations. Ultimately, companies that invest aggressively in talent management and development programs will reap rewards, the report concludes. "Today's top talent organizations are not sitting back and waiting for a slow recovery to solve their talent challenges," says Alice Kwan, talent services leader for Deloitte Consulting. "These executives are more likely to invest ‑ by a two to one margin ‑ across the board on talent priorities." More than 375 senior executives and talent managers at large companies worldwide took part in the research. For more about the survey, click here

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30% of executives rank the development of leaders and succession planning as today’s top talent-focused priority – the highest of any category.

29% of execs say leadership development and succession planning will remain the top talent priority for the next three years.

Just 17% of those surveyed believe their talent programs are “world-class across the board.”

More than four out of five executives say significant improvements need to be made in their talent programs.

56% of American execs surveyed say the main talent gaps relate to executive leadership and operations positions.

47% of survey respondents are highly concerned about losing Millennial employees to other firms – compared to just 32% for Baby Boomers.

Top strategy areas of focus for organizations:
Improving top and bottom-line performance (as cited by 38% of survey respondents)
Expanding into global/new markets (33%)
Cutting/managing costs (32%)

Top talent-management priorities:
Performance management (as cited by 73% of survey participants)
Talent assessment (72%)
High-potential employee deployment (71%)

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