In a the midst of a global economic slowdown, and amid nearly continuous reports of job cuts, it is perhaps ironic that people management—also known as talent management or human capital management (HCM)—has been thrust to the forefront of corporate strategy. Indeed, 74% of the organizations surveyed—and 83% of large enterprises—now believe that integrated talent management is mission critical.
Layoffs, mergers and acquisitions, and budget and headcount constraints will always impact HR operations. Yet even in the down economy, HR leaders are seeking to build and enhance their talent infrastructure to better prepare for the challenges that lie ahead. These challenges present opportunities to HR leaders with the foresight and wherewithal to capitalize on them. In ranked order of importance, the top HR challenges for 2009 are:
1. Hiring skilled talent and filling key positions
2. Improving leadership succession pipeline
3. Engaging and motivating the workforce
4. Identifying and retaining high performers
5. Building a performance-oriented culture
Download the 2009 State of Global Talent Management report