San Ramon, CA (PRWEB) July 20, 2006
Knowledge Infusion, the authority on Human Capital Management Technology, today announced preliminary results of a recent survey of 375 organizations on how they are positioned to react to the aging workforce, upcoming baby-boomer retirements, and looming shortage of skilled workers. The survey is part of a quarterly series launched by Knowledge Infusion to understand major issues currently facing HR, Learning, and IT professionals. The full results will be released at a live webinar, sponsored by Cornerstone OnDemand, on July 26, 2006 at 2:00 Eastern.
Survey respondents are primarily in HR management working in private industry and the public sector for organizations of all size. Highlights of the results include:
•74 percent of respondents indicate that the aging workforce will somewhat or greatly impact their organization’s ability to execute goals and strategy by 2010.
•50 percent of organizations indicate that retirements will cause a knowledge/skill gap, which many believe will lead to reduced capacity, lower quality of work, and increased expenses associated with attracting and retaining skilled workers.
•Larger organizations are expecting more of a talent shortage than their smaller counterparts.
•The top three operations in place to address the knowledge/skill gap are automating processes, formalizing succession planning programs, and mentoring programs.
The survey also shows that while over 45 percent of organizations site technologies such as performance management, competency management and learning management as systems important to the effective management of retiring employees, 35 percent of organizations state that they are not currently using such technologies.
“There is a clear need for organizations to understand the role technology can play in the management of their workforce in addressing upcoming retirements, knowledge transfer, and the shortage of skilled workers,” said Heidi Spirgi, President of Knowledge Infusion. “We see customers succeeding when they have a well developed and holistic plan for managing talent that is tied to technology.”
“We recognize that talent readiness is a critical issue for our clients,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Cornerstone is pleased to partner with Knowledge Infusion on the results of the survey, and include this event as part of our Insight OnDemand webinar series, which helps HR professionals and executives learn how to overcome the obstacles they face in today’s competitive marketplace.”
To register for the joint Knowledge Infusion and Cornerstone OnDemand webinar on July 26, 2006 at 2:00 pm EDT, please go to: http://www.cornerstoneondemand.com/insight.html
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
# # #