SuccessFactors recently completed business research into employee perspectives on the skills shortage, which revealed opportunities to develop a highly skilled workforce.
A skilled workforce is vital for maintaining business performance and combating commercial threats. However, too many companies are ignoring dissatisfaction that already exists within their workforce. This could spell disaster as the war for talent heats up – losing employees is a huge cost to any business in terms of time, cost and productivity, especially when it can be avoided.
SuccessFactors 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 i
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. Not only does it improve business performance but it also helps to secure the talent you already have in the business and prevents a widening skills gap in a workforce.
Many businesses are already 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’ benchmarking test 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.
For further information on SuccessFactors’ research and to take the skilled workforce benchmarking test, visit http://www.successfactors-skilledworkforce.com/benchmarking.php.
i ‘The SuccessFactors Employee Perspectives Snapshot 2012’ – Conducted by Vanson Bourne