LONDON, United Kingdom, April 29, 2015 /PRNewswire/ - New research from Cranfield School of Management, one of Europe's leading management schools, and Halogen Software (TSX: HGN) reveals that many organisations across the UK, Australia and New Zealand lack a cohesive talent management strategy especially when it comes to the departure of senior leaders.
Titled Strategic Talent Management Survey Results, the report presents key findings about the current investment priorities, policies and practices for managing talent in organisations across the UK, Australia and New Zealand. The study also shows that many organisations aren't making the most effective use of HR technology investments to support their talent programmes.
Commenting on the research Dr Emma Parry a Reader in Human Resource Management at Cranfield said:"The research shows the critical issue of succession planning and the development of a pipeline of talent for key roles is still taking a back seat — this is why so many organisations are not prepared for the departure of senior leaders. Key employees such as leaders and those with specialist skills can leave at any time, with potentially devastating results if a succession plan is not in place.
"The results suggest that rather than taking a long-term, strategic approach to managing talent, employers are still being reactive and not developing joined-up strategies to ensuring that they have the skills and competencies that their organisation needs."
Key findings from the report show:
- Less than half of organisations have a talent management strategy and over a third of respondents think their strategy is not working well.
- Only 19 percent of respondents are prepared for the departure of senior leaders.
- Only 17 percent of employers are making effective use of HR technology to support talent management.
- Less than half of organisations are using HR analytics to link HR activity to business performance.
- The highest priority for investment in HR technology is in performance management.
"Although the findings show technology investment to support strategic talent management is still maturing in the majority of organisations, it's positive to see the priority being put on performance management first," says Nick Kemp, Regional Director, EMEA, Halogen Software. "A strong performance management process and system is critical to creating alignment and engagement, which support better business results."
Dr Parry went on to say: "Evidence suggests that many organisations are only just beginning to realise the benefits of a holistic talent management strategy. Organisations must adopt an integrated approach to talent management in order to support the longer term needs of the business."
Notes to editors
In total, 546 HR and talent management professionals from the UK, Australia, and New Zealand participated in this research, conducted between October and December 2014.
To download the full report, visit: http://www.halogensoftware.com/learn/whitepapers-and-ebooks/talent-management-strategy-survey-uk
Cranfield School of Management is one of Europe's leading university management schools renowned for its strong links with industry and business. It is committed to providing practical management solutions through a range of activities including postgraduate degree programmes, management development, research and consultancy. For more information, please visit www.som.cranfield.ac.uk
Halogen Software (TSX: HGN) offers an organically built cloud-based talent management suite that reinforces and drives higher employee performance across all talent programs — whether that is recruiting, performance management, learning and development, succession planning or compensation. With over 2,100 customers worldwide, Halogen Software has been recognized as a market leader by major business analysts and has garnered the highest customer satisfaction ratings in the industry. Halogen Software's powerful, yet simple-to-use solutions, which also include industry-vertical editions, are used by organizations that want to build a world-class workforce that is aligned, inspired and focused on delivering exceptional results. For more information, visit: http://www.halogensoftware.com. Subscribe to Halogen Software's TalentSpace blog: http://www.halogensoftware.com/blog/ or follow Halogen Software on Twitter: http://twitter.com/HalogenSoftware.
SOURCE Halogen Software