With business leaders increasingly concerned about the global economy, organizations now see talent as the key to value creation, according to the 2019 Talent Trends report released today by Randstad Sourceright hrtech news.
HR leaders say their role in building nimble workforces and constructing holistic talent models is more critical than ever before: 83 percent feel their goal is to have a measurable impact on their business’ performance, up from 57 percent in 2016. Eighty percent of talent leaders say their recruitment strategy is more about value creation than cost savings.
Based on a survey of more than 800 C-suite and HR leaders, and 1,700 professionals across 17 countries, the annual Talent Trends survey provides a global snapshot of how talent leaders are uniquely positioned to make a significant impact on their business’ performance talent acquisition.
“If your organization is not able to attract, develop and retain new skills, it will almost certainly fall behind,” said Rebecca Henderson, CEO of Randstad Sourceright. “Whether through data insights, research or customer engagement, human capital leaders are in the driver’s seat to deliver these skills and accelerate growth and market share.”
By adopting a so-called ‘total talent’ approach, employers aren’t just filling jobs, but thinking about how to best get the work done through traditional and non-traditional means. Talent scarcity, the widening skills gap, and better access to technology and data are driving the shift towards a more integrated approach to workforce planning hrtech.
Among the C-suite and HR leaders who have already adopted this total talent model, almost all (98 percent) report being extremely or very satisfied. And among organizations that have yet to implement this approach, three-quarters (76 percent) plan to do so in the next 12 months.
The 2019 Talent Trends Report offers a look at how different markets around the globe are eager to adopt total talent strategies. Countries that face the greatest talent shortages, such as Germany, Japan and the U.K., rank highest on the indices for total talent readiness and adoption. C-suite and human capital leaders in these countries understand the need to approach their talent holistically to get the skills their company needs.
2019 Talent Trends Report Key Findings
Business Strategy: 80 percent of talent leaders say their recruitment strategy is more about value creation than cost savings.
Talent Scarcity: 76 percent of C-suite and human capital leaders say talent scarcity is a chronic concern and 73 percent say they are creating talent communities to nurture their future talent pipeline.
Diversity & Inclusion: More than a third (37 percent) of C-suite and human capital leaders are using artificial intelligence, big data and machine learning to reduce bias, while almost as many (34 percent) are using these tools to source and attract diverse candidates.
HR Technology: 81 percent of talent leaders say that technology makes recruiting simpler and more efficient, compared with just 68 percent in 2016, 2017 and 2018.
About Randstad Sourceright
Randstad Sourceright is a global talent solutions leader, driving the talent acquisition and human capital management strategies for the world’s most successful employers. We empower these companies by leveraging a Human Forward strategy that balances the use of innovative technologies with expert insights, supporting both organizations and people in realizing their true potential.
As an operating company of Randstad N.V. – the world’s leading global provider of HR services – Randstad Sourceright continuously builds and evolves talent solutions through recruitment process outsourcing (RPO), managed services programs (MSP) and total talent strategies. Read more at randstadsourceright.com