2008-03-05
At Öhrlings PricewaterhouseCoopers, everyday I get in touch with companies with expatriate personnel - in Sweden or abroad. It is very common that companies have an increasingly mobile and global work force.
There are many reasons for this. One of the driving forces is obviously the globalisation, but also the need for recruiting talent to a global corporation. According to a recent survey executed by Öhrlings PricewaterhouseCoopers, executives agree that competence will be an increasingly important factor in the future.
There is an awareness of what could be a crucial competitive factor but are the corporations prepared for the battle for talent in the global job market?
It is mainly the HR departments that are responsible for the global recruiting of personnel. It is also clear from our survey that many executives consider changing their strategy in order to find the right know-how and talent. This results in major challenges for the HR departments. At the same time, less than 50% of the executives are pleased with their own HR department when it comes to recruiting.
1150 executives from 50 countries have described their view on personnel issues and the result shows that recruiting talent is a crucial success factor for a global corporation. The current strategies and HR responsibilities are under revision pressure since 62% of the executives consider changing their strategy in order to find the right talent. 43% of the executives are satisfied with their HR departments when it comes to future needs for finding talent.
The importance of designing a winning personnel strategy in line with the company’s objectives is obvious. Many global corporations use various internal methods in order to achieve this. The problem is the difficulty in measuring the direct impact the employees have on a corporation’s objective. It is equally difficult to measure the effectiveness of the recruiting process as well as how the internal programs work in attracting and keeping personnel. In addition, there is also the difficulty to find the right compensation strategy in a global job market. This sums up some of the great challenges that companies and HR departments face.
About the survey:
CEO Survey – HRS, shows a current picture of attitudes, views and future prospects among executives around the world. The survey is based on interviews with 1150 executives. The interviews were carried out during September-November 2007.