Companies Struggling to Retain Quality Talent

September 8, 2010 – Sixty-five percent of companies globally and more than one-half (52 percent) of U.S. companies reported problems attracting critical-skill employees, according to The Towers Watson Global Talent Management and Rewards Survey. The study, which polled 1,176 companies worldwide, also found that 61 percent of companies globally, and 45 percent of U.S. companies, reported similar difficulty attracting top-performing, talented employees. Organizations in most regions reported having less difficulty retaining employees than they do attracting them. The survey noted that organizations are likely to increase their talent management emphasis in leadership, succession planning and career pathing over the next three years. When asked what their top talent management priorities were, 62 percent responded ensuring the readiness of talent in critical roles, followed by 60 percent who said increasing the investment in building an internal pipeline of talent was a top priority. “The business climate has clearly affected both the supply and demand of talent, and companies' ability to attract and hire talented employees,” said Laura Sejen, global head of rewards consulting at Towers Watson. “Even in relatively soft economies, top employees are in short supply. Add to that, workers today simply are in no rush to seek employment elsewhere, given the uncertainty over economic recovery.”

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