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Growing pains: Challenge 3 - EY - Global

Growing pains: 4 human resource challenges for expanding businesses in rapid-growth markets

Challenge 3 - Companies are unable to retain and reward high performers in different markets

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Effective talent management

How effective is your company at the following aspects of talent management?
Effective talent management

Note: Base = 810; scores shown = percentage of respondents who strongly agree

Getting good people is one thing; keeping them is another.

It can be difficult to incentivize performance appropriately across different markets and cultures. According to our survey results, many companies feel they can improve their approach to retaining high performing global talent.

Getting good people is one thing; keeping them is another.

What might galvanize employees in one culture can turn off employees elsewhere. Overall, most firms feel they can do better in this area. Only 20% of our survey respondents believe their companies do an effective job of evaluating and rewarding high performance across different markets.

Only 23% think their company is good at retaining global talent.

Effective talent management
How effective is your company at the following aspects of talent management?

Effective talent management

Note: Base = 810; scores shown = percentage of respondents who strongly agree

Response: connect short-term recruitment strategies with long-term workforce planning

To manage talent effectively, companies must have both a short and long-term approach. Recruitment and development can take considerable time, so an effective response will include planning beyond the immediate horizon.

Leisy argues that a company’s recruitment and mobility strategies must have both a short-term and a long-term view. They need to be agile in terms of quickly filling skills gaps. At the same time, they should connect to a robust workforce planning strategy three to five years into the future.

However, companies are making progress.

“Organizations are starting to get pretty sophisticated at this process. They look to their businesses and say, ‘I’m going to need ten engineers in India with these skills. How do I get them? Do I go out and recruit them, do I poach, or can I develop them internally?’”

In Leisy’s view, the answer is increasingly the latter.



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Contact us to find out more

  • Email Bill LeisyGlobal Talent Management Market Leader
    +1 404 817 5370
  • Email NS RajanGlobal Leader, People & Organization
    +91 124 671 4810
  • Email Dina A. PyronGlobal Director, Human Capital
    +1 212 773 7667
 
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