Talent management challenges hamper growth in global companies
This was a key takeaway that caught my attention from recent research by the ADP Research Institute®, “Harnessing Big Data: The Human Capital Management Journey to Achieving Business Growth.”
In fact, the study revealed that the top global business challenges facing multinational employers are:
Bridging cultural differences
Yet, recruiting and retaining the right people in the right locations requires a data-driven talent strategy. Achieving that begins with a unified workforce management infrastructure.
FACT: Global companies manage an average of 33 payroll and 31 #HR systems – a 40% increase from last year. More here.
More than two-thirds of survey respondents recognise the need for consolidation and say they want a more unified Human Capital Management (HCM) system. However, the study found that global companies currently manage, on average, a staggering 33 payroll systems and 31 HR systems. That’s a 40 percent increase, year-on-year.
Disparate HCM systems continue to have a detrimental effect on global employers’ abilities to achieve their business goals. With an integrated system, HR leaders can access consistent, company-wide information that will help them make data-driven workforce management decisions regarding talent acquisition, training and performance management.
These are a few of the key findings from this year’s survey. In upcoming blogs, I’ll dive deeper into the research results and what they mean for HR leaders at multinational firms. In the meantime, check out the study white paper for more workforce management insights.
As an HR decision-maker, what steps are you taking to refine your talent management strategy? Share your story below.
Read the original blog post here.