HR in Canada – Businesses aren’t prepared for today’s challenges says Deloitte Report

Significant uncertainty exists in Human Resources’ (HR) ability to address and respond to the challenges     of today’s multigenerational, borderless and technologically savvy workforce, according to the results of Deloitte’s 2014 Human Capital Trends survey of 133 Canadian HR and business leaders. Respondents recognized the need to take action on critical issues including leadership (73 percent), employee retention and engagement (55 percent) and workforce capability (50 percent). However, many HR professionals and non-HR executives expressed reservations about their readiness to take action. More than half of respondents also rated the current performance of their HR and talent teams as less than good.

“The greatest challenge for the human capital management profession is how to manage a rapidly globalizing workforce, while at the same time keeping pace with shifting demographics and ever-evolving technology,” said Heather Stockton, Deloitte’s Human Capital Practice leader in Canada. “Human capital strategies affect business’ ability to compete and grow. Now is the time for HR leaders and organizations to embrace these challenges and transform HR to effectively engage and manage the 21st century workforce.”

Stockton said that while the survey results suggest that the confidence in HR’s ability to support organizations is low, the task at hand is far from impossible.

“Business and HR leaders must have the confidence to reimagine and reinvigorate their teams,” said Stockton. “It is important that they do so in order to attract and develop the right talent for today’s marketplace.”

via Canadian Businesses Aren’t Prepared to Tackle Today’s Urgent Business Challenges, Deloitte Report.

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