Despite the war for talent showing no sign of abating, it appears that organisations are ill-prepared when it comes to crafting a comprehensive talent management blueprint to recruit and to retain employees.
According to Mercer’s 2016 Global Talent Trends Study, a shocking 85% of companies cited that their talent management policies require an overhaul.
Even more astonishingly, only four percent of HR professionals claimed that their HR function is viewed as a strategic business partner within their firm.
The 2016 Global Talent Trends Study also shed light on several Asian findings.
Companies in Asia are acknowledging the importance of HR skills and are more likely to invest in upskilling; 44% in the region and 53% in China have plans in place to develop this capability in 2016, as compared to 36% globally.
Workers in Asia are also the least prone to report that flexible work schedules would enhance their work situation (38%), as compared to globally (46%).
“Flexible work schedules are not the norm across the region,” said Susan Haberman, Senior Partner and Growth Markets Region Talent Business Leader for Mercer.
“However, as it becomes more popular among younger workers, employers will have to adjust their talent plans to accommodate jobs around a range of work/life styles.”