Skills shortage and business performance focus of new research

Sydney, Australia – (19/07/2012) – Research conducted by SuccessFactors, a Business Execution software provider, shows that many companies are not utilising skills that exist within their workforce, which could potentially spell disaster as the war for talent heats up.

Businesses aren’t blind to the talent shortage; HR managers across Europe already consider the skills shortage to be their biggest challenge. However, a survey conducted by SuccessFactorsi found that too many companies are failing to develop the talent that lies under their own roof:

  • 81% of employees feel they aren’t supported in their role
  • 83% of employees don’t feel their skills are being used to their full potential
  • 58% of the surveyed workforce will leave if you don’t develop them

Nearly two thirds of employees are prepared to leave their employer due to a lack of training and recognition of their potential. This suggests that employee development is becoming an increasingly vital weapon in the war for talent, as it helps to improve business performance and also prevents a widening skills gap in a workforce.

Losing employees is a huge cost to any business in terms of time, cost and productivity, especially when it can be avoided. This is why smart businesses are investing in talent management and staff development strategies. A more engaged workforce is a happier and productive workforce, and is less likely to feel the ‘itch’ that makes them an easy target for your competitors as the war for talent heats up.

SuccessFactors is offering a benchmarking test that allows business leaders to see how their company compares to other companies. Immediate recommendations on how to improve and where to get guidance on creating a winning talent management strategy are made after completing the test.

The skilled workforce benchmarking test can be found at http://www.successfactors-skilledworkforce.com/benchmarking.php.

i The SuccessFactors Employee Perspectives Snapshot 2012’ – Conducted by Vanson Bourne

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