Friday November 4, 2016
PWC’s Millennials at work report states that Millennials will make up 75% of the global workforce by 2025. When surveyed, 71% of this generation said they ‘wanted and expected’ an overseas assignment during their career.
In addition, according to Deloitte, 75% of companies expect to increase their mobile employees in the next three years. However only 2% of companies consider their talent mobility function to be good enough. This presents a real challenge for HR professionals when planning their near-future retention, succession and development strategies.
So is there an answer to better planning for talent mobility’s growing needs?
It’s clear that companies already winning this race have adopted innovative HR technology to help. This growing need is also reflected in Mercer’s research that showed almost 60% of organisations are already planning to implement new HR or talent management systems. It’s undeniable that Cloud based systems, which can engage intuitively, provide ‘people’ reports and ultimately lead to an increase in employee satisfaction will be of most use.
Software such as the award winning Talent Toolbox™ is able to develop a unique way to join communication and talent management together. When clear information is made available on your people’s competence and aspirations, for example, it can actively encourage talent mobility. By identifying and applying the people data alongside communication through Talent Toolbox, a major hotel group was able to fill almost 100% of their job vacancies internally saving over £400K a year in recruitment and training fees alone, whilst also increasing their employee satisfaction levels.
It’s undoubtable we face a world where the best and brightest talent are prepared to follow their own agenda and opportunities. Whether the challenge is talent mobility or succession planning, the best way for HR to now prepare is with tighter integration and better communication. Technology allows for that and can enable HR to become forearmed, strategic and more controlled than ever before.