Talent Investments Not Meeting Needs

New York — March 12

According to Mercer’s Talent Barometer Survey released Tuesday, 60 percent of organizations report increasing their investment in talent in recent years. However, just 24 percent say their plans are highly effective in meeting immediate and long-term human capital needs.

Moreover, 77 percent of those surveyed by Mercer have a strategic workforce plan in place. But when asked whether it is part of their longer-term strategy, only 12 percent said they had plans that extended for five years or more.

The survey, which aimed to assess the effectiveness of workforce practices in driving the short- and long-term success of organizations’ talent plans by region and industry, includes responses from HR and talent management executives at more than 1,260 organizations around the globe.

The organizations surveyed vary in size from fewer than 1,000 employees to more than 10,000 employees — including government and nonprofit organizations — and represent a variety of industries.

Mercer’s research also explores key accelerators of talent effectiveness — education, health and wellness and career experience — and their impact on successful workforce practices.

Significantly, more than half (57 percent) of the organizations surveyed are not confident that educational institutions will generate the talent needed by their businesses. The sentiment among respondents does not improve even when they are looking out as far as five years.

As for health and wellness, Mercer’s survey finds that less than half of organizations actively apply the basic elements of a health management program — such as ensuring a healthy workplace and establishing health-related policies and procedures. Less than one-third (31 percent) actively use a formal, written multi-year strategic plan for health and wellness, the survey said.

Source: Mercer