Managing talent in a turbulent economy: Part1

Deloitte

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Playing both offense and defense - fevrier 2009.

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• Publié par: deloitte
• Nombre de lectures: 186
• Langue: English

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Talent Managing talent in a turbulent economy Playing both offense and defense February 2009

Contents   2   3   5   8 10 11 14 16 Key fi ndings Playing defense and offense in a tough economy Resetting talent tactics to meet new economic realities Making the most of current talent Finding and keeping experienced talent Spotlight on workforce planning and analytics Survey participants Contacts Managing talent in a turbulent economy – February 2009 1

Key fi ndings About the survey This survey—the fi rst in a three-part longitudi- Executives are na s l e st e ud k y i — n wa g s c   o t n o du   ct fi ed n  fo d r   D t el h oit e t   e by Forbes right balance I b ns e ig t ht w s. T e h e is n fi r   st r  e e di d tio u n c fe i at n ur g es   results from a January 2009 survey that polled 326 senior busi- headcount and n   es w s le o a r de k rs force costs and and human resource executives at large busi- focusing on str ne a ss t es e  w g o i rl c d   wi t d a e l in e  th n e t A   m i e s ri s ca u s, e A s si   a/ a Pa t c   ifi c, me time. a   n   d Europe/Middle East/Africa. A more detailed the sa demographic profi le about the respondents can be found at the end of this report. The study documents several major fi ndings about how executives around the world are planning and manag- ing their workforces in today’s extremely challenging economic environment: • Senior executives have no illusions about the severity of the economic crisis or about the chances of emerging from it soon. • At the same time, they are keeping cool heads and taking deliberate actions to manage through the challenges. Executives are seeking to fi nd the right balance between reducing headcount and workforce costs and focusing on strategic talent issues. • At the top of the strategic talent list, executives know they need experienced talent and strong leadership to navigate today’s diffi cult economic environment. Companies around the world are focused on retaining the critical talent they have while attracting seasoned leaders. • Companies recognize the urgency of managing their workforce headcount and costs while maximizing their utilization of talent. But a surprisingly large percentage of companies report they do little to integrate workforce planning into all levels of their planning processes. Outside of workforce planning, companies are making only limited use of analytic tools and modeling in their talent processes. Managing talent in a turbulent economy – February 2009 2

Playing defense and offense in a tough economy In the current turbulent economy, it is of little surprise Nearly one-third say worst is yet to come that executives worldwide are taking action to “right- It is clear from the survey results that senior executives  size” their companies to meet the new economic  have no illusions about the challenges that lie ahead.  realities. According to the 326 international execu- Executives across a wide range of industries and regions  tives who participated in a January 2009 cross-industry  report a sobering economic outlook, with nearly  survey conducted for Deloitte by Forbes Insights, a key  one-third expecting the recession to deepen (fi g. 1).  component of this effort will be managing company  Fully 94% of poll respondents report the operating  talent in smarter, more strategic ways.  environment will remain tough for a while or get worse  in the months ahead. While corporate layoffs are in the headlines—and clearly part of the challenge facing many of the senior  At the same time, while starkly realistic, corporate  executives surveyed—it is not the shedding of human  leaders do not display panic in their responses to this  assets, but the determination to maximize their value,  survey. Instead, they show a cool-headed, “focus-on- that came through most strikingly in the survey results.  the-fundamentals” approach, using “defensive” moves  At a time of declining returns on fi nancial assets, these  to adjust to the downturn and, in a number of cases,  senior executives are seeking to enhance and deepen  planning to take the “offensive” to develop new  the capabilities of the human assets within their orga- offerings and enter new markets. nizations. To gauge talent management trends and attitudes, Figure 1. Executive outlook on the economy Deloitte has launched a three-part longitudinal study. The worst is surveconducted in the behind us Don’t know Three ys—scheduled to be  5% 1% fi rst half of 2009—will examine responses to broad developments in the economy, with each individual survey also zeroing in on a specifi c area of interest to talent managers. This fi rst edition spotlights the use of workforce planning and analytics. Digging Deeper: Executives in the Asia/Pacifi c region appear slightly more pessimistic about the future than their international counterparts—36% of Asia/Pacifi c executives surveyed predict the worst is yet to come, compared to roughly 30% in other regions. The worst is still ahead 30% Things are tough and will be for a while 64% As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Managing talent in a turbulent economy – February 2009 3

Playing defense is essential today capitalize on better times. More than one in four execu- In order to navigate in today’s tough economy,  tives identify developing new products and services as a  executives report that the top three strategic issues  top priority. Thirteen percent ranked investing in inno- occupying their attention are “defensive” actions,  vation as a leading strategic focus, as did 12% who say  including cutting and managing costs (61%), acquiring/ they are focused on expanding into new markets—led  serving/retaining customers (56%), and managing  by companies in Life Sciences/Health Care, Energy/Utili- human capital (27%) (fi g. 2).  ties and Consumer/Industrial Products industries.  But playing offense is critical for tomorrow These responses suggest there are sectors and compa- Nevertheless, many executives remain committed to  nies that are positioning themselves for growth once  “offensive” measures, preparing their companies to  the current crisis begins to pass (fi g. 3).  Figure 2. Current strategic issues Cutting and managing costs Acquiring/serving/retaining customers Managing human capital 27% Developing new products and services 26% Improving top- and bottom-line performance25% Addressing risk and regulation challenges20% Investing in innovation/research and development 13% Expanding into global and new markets12% Capitalizing on M&A/divestiture/restructuring11% Leveragingtechnology10%  61% 56% Figure 3. Current strategic issues by industry Consumer/Technology/ RankingIndustrial ProductsLife Sciences/HealthMedia/TelecomEnergy/UtilitiesFinancial Services 1Acquiring/serving/ Cutting and Acquiring/serving/ Cutting and Cutting and  retaining customersmanaging costsretaining customersmanaging costsmanaging costs Cutting and managing costs (2-way tie) 2Cutting and Managing human Managing human Acquiring/serving/ Acquiring/serving/  managing costscapital capitalretaining customersretaining customers Developing new Developing new Developing new Capitalizing on M&A/ Improving top-  3 products and servicesproducts and services products and servicesdivestiture/and bottom-line  restructuringperformance Investing in innovation/R&D Managing human  (2-way tie)capital Investing in innovation/R&D (3-way tie) Managing talent in a turbulent economy – February 2009 4