Talent acquisition and tracking among top areas impacting business objectives
In my last post, I discussed multinational companies’ top business objectives and challenges based on a recent study by the ADP Research Institute®. Today, I’ll share how insights from that study can help HR leaders at global companies more effectively use human capital management (HCM) to drive business performance.
69% of global companies say talent acquisition and tracking is the HCM area with the greatest impact on their business objectives.
Before HR leaders can take action to support their organisations’ business objectives, they must first identify which aspects of managing a global workforce will have the greatest impact on those specific goals. These target areas will likely differ from company to company. For example:
Are you having difficulty keeping track of your total global headcount?
Are you struggling to predict potential skill shortages in your workforce?
Is the prospect of identifying and developing your company’s future leaders daunting?
Well, you’re not alone.
Answering ‘yes’ to any of those questions suggests that refining your approach to talent management should be a priority. In fact, the study found that global HR executives have for three years in a row ranked talent acquisition and tracking among the top three HCM areas with the greatest impact on achieving their business’s objectives. In addition, HR executives in companies with 10,000-74,999 employees said global talent tracking and succession planning are the most critical HR areas impacting their companies’ business results.
One reason talent management is trending as a top priority is that it directly relates to a company’s ability to drive successful growth. As a company expands, so too does its need to find, recruit and develop the top talent it needs to thrive in new markets.
For HR leaders, this means there’s a clear opportunity to impact the business in a positive way. By investing more resources in enhancing their talent management and performance management strategies, HR executives can play a strategic role in driving overall business performance.
If you haven’t done so already, check out my previous posts about this study or read the white paper, “Harnessing Big Data: The Human Capital Management Journey to Achieving Business Growth.” In my next blog, I’ll make some recommendations for HR leaders based on key conclusions we’ve drawn from this recent study.
What key areas of HCM will have the greatest impact on your company’s business goals this year? Share your comments below.
Read the original blog post here.