An organisation’s ability to align its workforce with its business and growth goals is critical to its future success. Businesses need to ensure they have the right people, with the right skills, in the right place to be able to realise their ambitions.
At the same time, business leaders are becoming aware of a range of issues, including the potential to automate certain roles and the need to create new positions to manage emerging technologies. Whatever technological innovations lie ahead, people will make the difference between organisation’s eventual success and failure.
PwC’s 2017 HR Directors (HRD) Pulse Survey highlights a number of fundamental challenges as well as opportunities which HR functions are facing.
Skills and workforce planning
The lack of availability of key talent remains a key concern amongst Irish HRDs, mirroring the findings of the PwC’s 2016 CEO Pulse survey.
The survey confirms that the skills shortage is having a serious impact on business performance with 67% of Irish HR leaders reporting a delayed or cancelled strategic activity or new market opportunity.
The survey reports that the greatest talent shortages are in the areas of IT, data analytics, risk and finance. As a result, some HRDs are searching for talent in different geographies and industry sectors.
Performance and talent management
According to the survey, the majority of organisations polled have changed or are set to change their performance management model, as business leaders recognise the importance of focusing on more frequent performance discussions and real time feedback.
To have a truly effective performance management process that supports employee performance, development and success, requires highly engaged senior executives. HR leaders indicate that there is a reasonable degree of involvement by senior leaders, with almost two-thirds (64%) being either heavily or reasonably involved in the process.