Washington, D.C. (PRWEB) April 10, 2006
Today at the International Association for Human Resource Information Management (IHRIM) HRMStrategies 2006 Conference and Exposition, IHRIM and Knowledge Infusion announced the results of their 2006 Talent Management Survey. The second year that Knowledge Infusion and IHRIM have conducted the joint survey, the results revealed that an overwhelming majority of companies cite Talent Management initiatives -- including performance and learning management, succession planning, recruiting, and competencies -- as an explosive interest within their organizations for the next three years.
Survey respondents are from IHRIM’s 3,000 members and Knowledge Infusion’s comprehensive customer base, primarily in HR management, with a majority representing organizations that generate greater than $1 billion in revenue. Respondents stated talent acquisition, leadership development, aligning people and goals, performance management and talent management metrics as top initiatives for 2006. The reasons cited for the increase in the importance of talent management initiatives included recognition of the essential link across training, knowledge and performance, the looming talent shortage and the realization that internal redeployments can often be more effective than external recruiting.
“The results of our survey clearly demonstrate that companies today realize the importance of deploying talent management initiatives to drive business performance, with more than 77 percent of respondents stating that they see dramatic increases in talent management initiatives within the organization over the next three years” said Jason Averbook, CEO of Knowledge Infusion. “As organizations embark on these initiatives, it’s critical they have a strategy in place to ensure they are selecting the appropriate solutions today and into the future.”
“Seeing that more than 40 percent of organizations have little or no integration from both a process and technology standpoint is concerning for the future of holistic talent management” said Heidi Spirgi, president of Knowledge Infusion. “The lack of integrated processes along with little to no measurement of the workforce demonstrates that most organizations should increase their focus on talent management initiatives immediately.”
A majority of the organizations surveyed stated they have either implemented or are in the process of implementing a recruiting solution, with performance and compensation management falling close behind as current initiatives in progress. Respondents cited the greatest satisfaction with their portal solution implementations. Conversely, workforce analytics, succession planning and performance management were listed as the solutions organizations were least satisfied with post implementation.
Other findings from the second annual Knowledge Infusion and IHRIM survey include:
- 54 percent of respondents cited they are planning to purchase a performance management solution over the next three years
- 42 percent report little to no effectiveness in the relationship between HR and training in creating and executing joint HCM initiatives
- 78 percent indicate collaboration between training and HR will be greater over the next two years
- 52 percent stated HR is never invited into the boardroom to discuss future organizational goals and strategies
- 38 percent do not have a senior executive who is responsible for the performance of the workforce
- 88 percent report their organization is limited or not successful at all at aligning business goals to measurable business results
- 72 percent of organizations have no analytic tools to measure the impact of HR on business results
“The IHRIM and Knowledge Infusion Talent Management Survey validates that organizations around the world are focusing a great deal of effort on talent management initiatives both today and over the next few years,” said Lynne Mealy, CEO of IHRIM. “IHRIM is dedicated to providing our members with the best education and knowledge about the talent management market in the industry today and we look forward to increasing our focus on this important area in years to come.”
Please visit http://knowledge-infusion.form25.com/newsletter to register for the Knowledge Infusion email newsletter and to receive a complete copy of the survey results when available.
About Knowledge Infusion
Knowledge Infusion is the consulting authority on Human Capital Management (HCM) technology. Formed in 2005 to meet a growing market need, the firm provides strategic management consulting services to help organizations drive true business value from HCM technology via its integrated Strategy-Plan-Action methodology. Working collaboratively with clients, Knowledge Infusion assists in forming and executing decisions that allow organizations to maximize the value of current and future technology assets in supporting human resource and talent management strategy. The Knowledge Infusion consulting team is composed of industry leaders from product vendor, market analyst and consulting firm backgrounds, respected for their trusted advisor approach to assisting clients. Additionally, Knowledge Infusion thought leadership and concentrated focus on HCM technology enables access and close coordination with industry analysts and HCM product vendors that provides further capability in supporting clients. For more information, please visit: http://www.knowledge-infusion.com
For 25 years, IHRIM, the International Association for Human Resource Information Management, has been the resource that HR technology professionals turn to for industry news, knowledge and networking. Today, IHRIM is a community of experts – a dynamic group of practitioners, vendors, consultants, students and faculty that continues to grow, not just in numbers, but in its scope of knowledge and information. For more information, please visit: http://www.ihrim.org
Knowledge Infusion and the Knowledge Infusion logo, and the other side of the equation are registered trademarks of Knowledge Infusion, LLC. All other company and product names may be trademarks of their respective owners.
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