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Study Reveals Company Leaders Failing to Recognize Importance of Talent Management

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TMCnews Featured Article


March 03, 2009

Study Reveals Company Leaders Failing to Recognize Importance of Talent Management

By Susan J. Campbell, TMCnet Contributing Editor


Effectively managing talent within the call center has been an ongoing challenge for call center managers for years. Now, as the economy continues on its negative slide and companies are tightening budgets, call center managers are facing more challenges than ever before. Surprisingly, talent management is falling to last on the priority list for company leaders.


According to Personnel Decisions International’s new Pulse (News - Alert) on Leaders global study, there has been a dramatic shift in leaders’ top business challenges. Respondents from around the world ranked financial pressures to cut costs and rapid market decline as their toughest business challenges. These issues are certainly falling over into the call center space as customer service is taking a hit.

The previous study done by PDI found that top-line growth and talent management were the key issues with company leaders. A significant shift has been seen throughout the global economy as these leaders are feeling the pressures of a sinking economy and recognizing what needs to happen to stay afloat.
 
"Organizations should be asking, 'do we want to be in business after the downturn?'" said Marc Sokol, Ph.D., senior vice president and global practice leader, PDI, in a company statement. "If the answer is 'yes,' they must focus on the leaders who can guide them through these turbulent times."

Sokol added, "The best executives are focusing on both short-term challenges and long-term strategies. They recognize the need for key talent that can help the company get through current tough times, while also setting the stage for a competitive advantage once the recession ends. Our clients understand that if key talent leaves now, it may save money in the short term, but will leave the company vulnerable after the recession."

When asked for their top business challenges during the study, company leaders responded with such responses as:

  1. Financial pressures to cut costs (83 percent)
  2. Rapid market decline (54 percent)
  3. Competitive threats (23 percent)
  4. Access to capital (23 percent)
  5. Realizing the full potential of a recent merger or acquisition (16 percent)
  6. Taking advantage of pockets of rapid market growth (16 percent)
  7. Leveraging global expansion investments (13 percent)
  8. Loss of leaders in key areas or insufficient talent to quickly adapt to change (5 percent)
"As organizations deal with cost cutting, they also are re-evaluating business strategies and are restructuring to meet today's demands," said Sokol. "It is critical these organizations also understand the talent and leadership requirements to put these new processes and structures in place. Developing and retaining top-performing employees is an essential piece and should not be overlooked."

The same is true within the call center as it is imperative that companies do not lose sight of the importance of these front-line divisions. The call center is often the first – and sometimes the only – point of interaction between the customer and the company. Without key talent in place and customer service as a priority, the company could be in more trouble than previously thought.

Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Stefania Viscusi







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