Senior Executives Focused on Hiring and Developing Talent as Economy Recovers

Senior Executives Focused on Hiring and Developing Talent as Economy Recovers

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Senior Executives Focused on Hiring and Developing Talent as Economy Recovers >

Nov. 4, 2009 — As the economy begins a slow recovery and executives start to cautiously think about hiring again, senior leaders are focused on hiring and developing talent, according to a new survey. >

The survey of more than 450 senior executives on LinkedIn by Right Management, the talent and career management expert within Manpower, found that employers are preparing themselves for growth opportunities: one-third of respondents will be hiring new talent in 2010, while 36% will focus on developing current talent, and 20% reported that increasing engagement is a top priority. Career development opportunities and efforts to increase engagement typically improve retention, which may explain why only 4% of senior leaders indicated they would be focusing efforts on retention, according to survey results. >

The survey found that leaders in finance functions seem to be the most focused (44% on developing current talent, followed by IT executives (36%). Skills gaps were acknowledged by business development executives, as well as operations and information technology leaders, who will all be mostly focused on hiring new talent next year, according to survey results. >

“Whether hiring or developing, we anticipate there will be heightened efforts for employers to assess the competencies needed to be successful in 2010 and beyond,” said George Herrmann, Right Management’s group executive vice president of the Americas. “Businesses and governments will continue to demand highly specialized skills and behaviors. The pressure to find the right skills in the right place at the right time will increase as the working age population declines, the economy rebounds and the nature of work shifts.” >

About the SurveyThe LinkedIn survey of 461 senior executives was conducted between September 17 and October 20, 2009 in the United States, Canada and Latin America. >

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.