The key aim for businesses in 2014 will be implementing more efficient talent management strategies, in a bid to maximise future growth, a new survey from the Chartered Management Institute (CMI) has found.
The study, which was produced alongside The Conference Board, found that company bosses are adopting a worker-centric approach in 2014, with the number one priority of business leaders being reshaping workplace culture.
With employee engagement and better management at its heart, the general consensus is that this will improve competitiveness, as well as winning new customers and boosting productivity.
Across the world, the issue of Human Capital - namely how best to develop, engage, manage and retain talent - is the leading challenge facing businesses, followed by Customer Relationships, Innovation, Operational Excellence and Corporate Brand and Reputation.
As well as broadening their recruitment horizons, firms are focusing on creating a strong internal talent pipeline, with nine out of the top 10 Human Capital strategies selected focusing on providing training and development.
Other tasks include raising employee engagement and increasing efforts to retain critical talent, with an improvement in leadership development programmes also targeted as greater emphasis is placed on the importance of management performance.
When asked to identify the leadership attributes most critical to future success, CEOs rated integrity number one, as well as the ability to lead change, manage complexity, and retain and develop talent.
Petra Wilton, the CMI’s director of strategy, said that building world-class workforces is a "top challenge "for CEOs, but welcomed the increased recognition that leadership development is critical to achieving this.
"Leadership attributes like integrity, leading change and managing complexity are fundamental to cracking the challenges facing managers and leaders in the year ahead, and will be absolutely key to future success," she added.
Rebecca Ray, senior vice president of Human Capital at The Conference Board and co-author of the report, added: "Business leaders worldwide are working to optimise their greatest resource - their employees, and those who will lead them. This emphasis on people-related issues makes perfect sense in a still-uncertain economy."
Posted by Jon Aspinell on 16th January 2014
Product and Solutions Consultant
Product and Solutions Consultant - Birmingham (and home based) - up to £45,000 plus bonus and benefits (beaconing tec...
We have been engaged by a well-established charity in their search for an experienced HR Administrator/Recruitment Co...
IT Support Engineer
A growing medium-sized business is looking for a proactive IT Support Engineer to join its small IT team based in the...
Graduate Marketing Assistant
A rare opportunity has arisen in a unique global professional marketing business with offices in Twickenham, West Lon...
Digital Marketing Manager (B2C)
The Ashdown Group has been engaged by an international retailer, well-established, with an excellent reputation, to a...
ASP.Net Developer (MVC, C#, eCommerce)
An excellent new opportunity has arisen within a successful technology business, who are looking for a .Net Developer...
Is faster better?
‘Hire slow, fire fast’ - it’s an old business adage that continues to hold traction today. But in today’s hiring envi...
Unemployment falls to 4.3 per cent
Unemployment in the UK fell to 4.3 per cent between February to April 2017 and May to July 2017, the lowest since 197...
Keeping candidates engaged during the recruitment process
The relationship between a hiring team and a candidate can be a highly fruitful one, if it has been cultivated proper...
UK companies to publish pay ratios between CEOs and workers
Companies publicly listed in the UK are going to be expected to make public how much their chief executives are paid,...
Are internal candidates a safer bet than external candidates?
When you need to recruit for a vacancy in your firm, you’re faced with two choices: hiring externally or promoting in...
Does it pay to recruit with diversity in mind?
Is diversity a significant aspect of your recruitment strategy? If not, you may be hindering your company’s future pr...