Despite the increasing concern for talent issues, new research findings from KPMG International reveal that many organizations take a narrow approach to talent management – one that is steadily weakening their organization’s competitiveness and agility.
The resulting report - Time for a more holistic approach to talent risk - shows many organizations are seeing only half the picture. Many organizations are being driven to implement short term ‘point solutions’, ignoring the need to configure their talent management efforts in a broader, more sustainable way.
- The survey reports organizations are downplaying talent risks in the areas of connection, diversity and performance management.
- The lack of emphasis on "connection" is a concern given the nature of work today as well as the entry of younger generations into the workforce.
- In Canada, downplaying Diversity has increasing importance with the recent announcement from the Ontario Securities Commission requiring companies to annually publish a description of their diversity policies. This new standard is the first of its kind in Canada and will likely be the catalyst for change in diversity in many organizations.
- Retention continues to be a key concern consistent with last year's global survey - Canada rated this the #1 Challenge in the Rethinking Human Resources in Changing World Survey
- Cost as a driver/concern is best considered a more balanced view of talent needs and challenges
- The survey points to a difference of opinion between HR and line Managers about talent needs and priorities
Please contact us for more information on how your organization can minimize talent risk.