Recent research condensed for busy talent development executives
What is workforce readiness?
Accelerating Total Workforce Readiness, i4cp's survey of 1,300 HR and business executives across 80 countries, found that most firms are not clear about what workforce readiness means and that few leaders understand their role in upskilling employees.
- Less than one-third say their employees have the skills they need to perform their jobs today or in the future.
- Fifteen percent indicate their organizations are highly effective at analyzing the gap between current workforce capabilities and future business requirements.
- Forty-three percent don't have any process for analyzing workforce readiness at all, and only one in 10 companies has an employee skills inventory with profiles on their employees.
"When you combine all of this with an already strained labor market, it adds up to business leaders and HR executives looking to the future with desperation in their eyes."
—Thomas Stone, research analyst for i4cp
Don't wage war for talent inside your company
According to the Conference Board, internal talent mobility has taken on new importance for CEOs and C-suite executives as recruiting and retaining top talent rise in priority. For a closer look, Transforming Talent Acquisition, Onboarding, and Internal Mobility brings together findings from an online survey of more than 175 talent acquisition and HR leaders; an online survey of more than 2,400 workers; and conversations with TA and HR leaders, chief human resource officers, and CEOs.
- Three-quarters of organizational leaders don't want their talent poached internally.
- Six out of 10 respondent organizations do not have a cross-functionally integrated talent mobility program.
- Only 34 percent of surveyed TA and HR leaders report that their organizations have implemented an internal talent marketplace platform that enables employees to see all open positions and potential career paths.
"You can find the perfect candidate who works in your organization and has a proven track record, but you cannot reach out to them because there is a ‘no poaching talent culture.' But if your organization is not trying to facilitate the career paths of your top talent, they're going to go somewhere else."
—Robin Erickson, principal researcher for the Conference Board
The great disconnect
Resetting Normal: Defining the New Era of Work 2021 reveals that there is a pronounced disconnect between how managers view their own performance and how nonmanagers judge leadership achievements. Satisfaction with leadership is particularly low in the areas of company culture and career advancement opportunities, according to the survey of 14,800 knowledge workers across 25 countries conducted by LHH and the Adecco Group.
- Eighty percent of managers say they are satisfied with senior leadership; only half that number of nonmanagers are satisfied.
- Three-quarters of managers say they are satisfied with their own performance; only 57 percent of nonmanagers are satisfied with the performance of their manager.
- Less than half of workers say their managers meet or exceed expectations for creating good team morale and a good working culture.
- There was a 13-point decrease from the 2020 study in the number of respondents who said they feel motivated; nonmanagers reported the worst motivation levels.
"Employees need leaders to step up to the plate right now, and leaders also need support. Companies should invest in coaching for their leaders so they can better identify and address issues that could otherwise become the reason employees leave."
—John Morgan, president of LHH
CFOs are cautiously optimistic
The StrategicCFO360 CFO Confidence Index is a monthly pulse survey of US-based CFOs. The quick poll asks the same three questions regarding their confidence in the current business environment; their outlook for the economy 12 months ahead; and their projections for their company’s revenue, profit, capital expenditures, and cash-to-debt ratio for the year ahead. Recent results show a restrained sense of optimism among America’s finance chiefs.
- Forecast of business conditions a year out is rated 6.6 out of 10, where 10 is “excellent.”
- CFO sentiment is split evenly, with 31 percent expecting conditions to improve, 35 percent expecting them to deteriorate, and 34 percent expecting them to remain the same.
- CFOs are hopeful across most sectors, with the exception of those in construction, wholesale and distribution, and tech.
“Although the indicator has gained momentum in recent months, inflation, material shortages, and the Great Resignation continue to weigh heavy on CFOs’ minds.”
—Isabella Mourgelas, research analyst for Chief Executive Research
Read more from CTDO magazine: Essential talent development content for C-suite leaders.