Retaining the talent within organisations is the number one challenge for senior Human Resources (HR) managers in 2008, according to a survey by Taleo.
The survey, “HR Challenges in 2008”, asked more than 200 senior HR managers in the United Kingdom (UK) about their biggest challenges in the coming 12 months, what tools they need to help optimise HR performance, and their HR budget expectations.
Survey findings indicate that recruiting and hiring are top-of-mind with UK HR managers this year. When asked to select their top HR challenge going into 2008, the following trends emerged:
- Keeping it in the company – 30% cite “employee retention” as their top challenge for 2008
- Recruiting the right staff – 23% cite “hiring the best talent in the marketplace
- Attracting candidates – 11% cite “attracting candidates to the organisation”
- Keeping it legal – 11% cite “complying with new legislation.”
Additional challenges listed include: succession planning (10%); career development management (5%); cutting recruitment costs (4%); gaining boardroom support for HR (4%); and increasing the internal mobility of staff (2%).
When asked about tools and budgets for 2008, the top responses indicated:
Performance Management tools – 44% say “a system to improve performance management, succession and career planning in your organisation” will help them do their jobs better. Additionally 21% want “an easy way to measure the effectiveness of HR processes like recruitment,” followed by 15% seeking “better visibility into employee’s skills.”
Money – The majority of respondents expect their budgets to remain the same (46%) or increase (33%) in 2008. Only 21% expect their budgets to decrease in the coming year.
Neil Hudspith, SVP, International, Taleo, said: “HR is experiencing sustained pressure to recruit and retain the best people in a market where employees are increasingly calling the shots. In response, Boards are increasing HR budgets and HR executives are looking for technology solutions to help them solve their recruiting and retention challenges.”