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25 February 2010
New research by employee assessment firm Talent Q, reveals that over half (55%) of UK organisations are anticipating increasing their investment in talent management in the year ahead, up 15% on 2009. The results of Talent Q's latest annual talent management survey suggest increased confidence across nearly all sectors and proactivity on the part of the HR community in leading their organisations out of the downturn.
Talent Q's second annual survey canvassed the views of 225 senior HR professionals, which together employ some 10% of the UK's workforce, on a range of talent management issues. The overall findings seem to back up Prime Minister Gordon Brown's recent comments on 'encouraging signs' in the jobs market and may be a further indication of the end of the recession.
However, the Talent Q report also reveals that further headcount reductions are still very likely, especially for larger organisations. Of the employers which responded to the survey with 50,000+ employees, almost 50% intend to make further cuts during the next 12 months.
Looking to the next 12 months, organisations report their intention to adapt their talent management strategies in preparation for the economic upturn which includes increased investment in the development of their existing talent pool, redefining what they look for in new employees, and a drop in intention to reduce headcount.
Even beleaguered financial services organisations have begun re-investing in talent, with 71% planning to spend more, albeit this relates to a very low base last year. Similarly, investment in this area is also relatively high in the public sector (61%) and utilities organisations (58%). Other sectors, which may be more severely impacted by the recession, appear to be significantly less confident with regard to investment. Less than half (46%) of respondents in retail/consumer, and 42% of the professional services sector, plan to up their investment.
To read the full survey please click here