Many organizations still lack the structure, strategy, culture, solutions and resources needed for effective employee management. If they want to succeed in business after 2020, they should focus on developments in important factors, including roles and responsibilities for HR strategies, demographic changes and the changing face of work, employee needs, leadership development and talent management.
These are the results of the Workforce 2020 - Building a strategic workforce for the future study carried out by Oxford Economics and SAP. The study, conducted in 2014, included more than 2,700 executives and more than 2,800 employees in 27 countries, including the Czech Republic. It brought not only an overview of the global situation and trends, but also specific analysis for each participating country.
HR lacks strategic impact
According to the study, the new 2020 workforce will be strongly flexible and diverse. HR departments, however, lack the necessary measurement tools to base their workforce development strategies on. They also lack strategic information and vision.
The study also examined several myths about the interests and needs of Millennials. It turned out that the youngest generation of employees is not as different as most people think. A different approach is needed only in their need for more frequent feedback and intensive training.
Leadership lags behind
As far as employee satisfaction, compensation plays the most important role. The amount of earnings is also the most important prerequisite for employees to start working for a particular employer and to stay with them.
Both executives and employees agree that leadership plays a vital role in the future success of companies. Most organizations, however, still do not pay enough attention to leadership development. Succession planning for key roles is inadequate as well.
The Czech Republic faces a talent crisis
The report for the Czech Republic, formed on the basis of the Workforce 2020 study, states that the biggest changes in the local market in the coming years will be:
- workforce globalization,
- the Millennial generation's entry into the labor market,
- difficulties recruiting workers with only basic knowledge and skills,
- aging workforce,
- growing number of contingent workers.
The full report specifically focusing the Czech Republic is available to download here.
The complete Workforce 2020 study can be read or downloaded here.
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