Our new research reveals the majority of enterprises are failing to develop the talent they need to be effective in the Digital Economy.
Working environments have become increasingly difficult to manage and too many staff are simply not motivated to drive value to their firms. Simply put, the old way of managing staff in today's self-entitled employment world is just no longer working, and there needs to be a significant mindset change from both employers and their staff to re-humanize the enterprise. Otherwise, the ROI of hiring people will really become unattractive.
When I penned the now-infamous post "Welcome to the age of Digital cruelty, where two-thirds of operational jobs are under threat", I was thinking about how enterprises can develop change programs to reorient staff to add more "Digital Value" to their organizations, and how they can leverage their partner relationships to help plug the Digital gaps and improve their existing talent potential.
Then HfS' workforce and talent analyst, Christa Degnan Manning, shared her insights with her new Talent Acquisition Services Blueprint, which brought forward many of the issues surrounding talent retention and creating a work environment where (motivated) staff can develop their careers with their employers with a long-term goal in mind.
So we revisited our recent workforce study which covered 5,000 enterprise employees globally, to understand how motivated today's talent is to stick with its current employers:
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Barely 4 out of 10 staff intend to stick with their employer for more than a couple of years
Ouch. Yes, people, the day of the long term company job is truly dying on the vine, where close to half of today's workers are already looking for a new employer, while another third are readying to move on in another year or two. At the same time, as our recent State of Outsourcing Study fleshed out, two-thirds of enterprises feel their existing operations talent is falling well short in "Digital" areas such as analytical capability, being creative with new ideas, driving better automation etc. So what does all this mean?
Poor talent leadership and unmotivated staff is a recipe for corporate failure
It's becoming abundantly clear that many staff that stay with a single employer for too long are losing relevancy, when it comes to delivering new value and insights. This is because most
Analytics and Big Data, Buyers' Sourcing Best Practices, Digital Transformation