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Strategic Workforce Management, Attracting New Talent, and Retention Are Top Challenges in HR Executive's Agenda, says AberdeenGroup
BOSTON --(Business Wire)-- Oct. 12, 2005 --
Employee Self-Service and Online Assessment, and Application Integration Are Dominating the HCM Technology-Deployment Agenda
According to Aberdeen's latest research, competing for talent is long-term concern and short-term business driver of Human Capital Management (HCM) executives across all industries. Focus on growing internal talent, establishing career paths, and succession planning (96%), and building a brand that attracts new employees (89%) are also on the 12-month agenda. Yet best-in-class companies are less concerned about recruiting tomorrow's talent, focusing instead on defining the balance between the level of service and cost of benefits, as well as planning and managing a global workforce.
Aberdeen conducted its recent HCM survey in conjunction with the Human Capital Institute (HCI), a Washington, DC-based provider of educational programs for human capital practitioners, talent managers, and executives.
According to Aberdeen's new report, "The HR Executive's Agenda: The 2005 Benchmark Report," HR executives' top strategies include:
-- Emphasizing long-term workforce planning;
-- Improving the company's brand as a desirable, viable place to work; and
-- Updating and integrating HCM technology.
In fact, 59% of HR executives identify the improvement of HCM technology as a key response to their business challenges. Specific investment areas include hiring management solutions, pre-employment assessment, employee self-service, and performance management. The report confirms that 96% of HR executives outsource some portion of their HR technology solutions today.
"The lifecycle of the employee - from hiring until retirement - has become the focus as chief executives in human capital weigh more competitive hiring practices, improved performance management, and better retention and succession planning strategies," says Dr. Katherine Jones, HCM research director and report author. "Improving performance management with an eye to improving employee productivity and performance is both a short-term goal and a long-term strategy. Executives are working to retain their best talent and plan for job succession throughout the corporation."
To obtain a complimentary copy of the report, follow this link: http://www.aberdeen.com/link/sponsor.asp?cid=1968
About AberdeenGroup, Inc.
AberdeenGroup provides fact-based research and insights focused on the global, technology-driven value chain. Aberdeen's benchmarking, market and solution assessments, sales acceleration programs, and conferences support Global 5000 value chain and technology executives and the solution providers who serve them. For more information, visit www.aberdeen.com or call 617-723-7890.
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