Australian employers prepare for growth

Australian employers prepare for growth Australian employers prepare for growthPosted October 13, 2011, by Josie Chun The majority of Australian employers are anticipating growth in the coming years and are planning to develop their talent, according to the latest Future of Talent Management report by HR firm Mercer. The survey, conducted in JuneJuly of last year, surveyed HR and talent management leaders from almost 500 organisations in Australasia covering a broad range of industries, mainly in technology, telecommunications, manufacturing, healthcare and finance. Most businesses are entering a period of growth, with only eight per cent stating that they are still suffering the effects of last years downturn. With growth on the agenda, competition for skilled workers is expected to increase significantly. bedrngnislage surprisingly, 84 per cent of Australian businesses believe that talent management will become a high priority in the next several years. Many organisations are alrea dy reporting that they cannot recruit or develop their own employees fast enough to keep pace with demand and business growth, according to Marianne Roux, Talent Segment Leader for Mercers Human Capital business in Australia. Workforce segments, skills and capabilities are still not aligned with the new business conditions for most organisations and a skills deficit is rapidly emerging across multiple industries, says Roux. Employers must therefore seek new ways to attract and retain key talent. Most businesses are planning to ramp up their staff development programs, especially leadership training (87 per cent), workforce training (83 per cent), employee engagement (83 per cent) and succession planning (80 per cent). Australian organisations must urgently identify any potential skills and knowledge gaps and put in place accelerated development programs that will address these capability gaps, says Roux. Its no surprise that leadership tops the list of priorities. The impact l eaders have on business success and organisational effectiveness is huge, and right now organisations are not sure that they have the quantity and quality of leaders they will need to succeed for the future. The priority for employers should also be to focus on the people that impact the organisations ability to perform. Many talent pipelines reflect only the leadership potential of the organisation and do not include the core, critical and technical pipelines that deliver operational excellence. These are the functions where loss of talent can make the organisation extremely vulnerable, warns Roux. Roux also admonishes businesses to be progressive if they want to stay ahead of the game. Many companies made dramatic changes to their workforces and talent programs during the downturn, but future success requires adapting to the new paradigm rather than merely reverting back to their pre-downturn model. Its a different business environment now. Were looking ahead to a period of s trong positive growth, which translates into different talent needs. Talent programs need to be reviewed and tailored to fit this new reality, says Roux. ResourcesMy first resumeCover letter for my first jobCareer Insider StoriesShelley Lask - Body Positive Health & FitnessInterested in becoming a?Human Resources OfficerGeneral ManagerBusiness ManagerAccountantOffice AdministratorPopular Career Searchesaustralian job opportunitieshighest paying jobs in australiaskills you need for the futureonline freelance writing jobs australiamillennials in the workforce statistics CoursesBachelor of Social WorkEnquire verbunden Enquire OnlineCertificate III in Health AdministrationEnquire Online Enquire OnlineBachelor of Criminal JusticeEnquire Online Enquire OnlineCertificate III in Allied Health AssistanceEnquire Online Enquire OnlineJosie ChunRelated ArticlesBrowse moreWORKFORCE TRENDSTrustworthy and open managers are most valuedTrustworthiness and openness are now seen as the most important characteristics of a good manager, according to the latest L.E.A.D. (Leadership, Employment and Direction) Survey.International studentsHelen Zhang - Exchange Student, Beijing, ChinaExchanges are amazing and fun. You get a lot of time to do other things such as travelling, but it also gives you time to reflect on your life and learn things about yourself you wouldnt have otherwise known.Career counsellorHigh school5 Things I Wish Id Known When I Finished High SchoolThey say hindsight is 20/20. Jo reflects on some career pointers she wishes shed been able to give her 18-year-old self.