Despite stubbornly high unemployment, with recent reports of job gains showing a modest decline in the U.S. unemployment rate, human resource (HR) professionals around the globe have continued concerns about attracting and retaining top talent. This talent paradox, combined with dynamics of four distinct generations in the global workforce, points to the need for more effective and adaptable talent strategies and rewards programs.
The 2013 “Top Five Global Employer Rewards Priorities Survey” from Deloitte, the International Society of Certified Employee Benefit Specialists (ISCEBS) and the International Foundation of Employee Benefit Plans reveals that HR leaders across the globe are acutely focused on talent as the top challenge and priority over the next three years. Approximately one in four respondents from all geographies surveyed, including the Americas (24 percent), EMEA (28 percent) and Asia-Pacific (24 percent) cited finding, motivating and keeping talent as their top priority.
“Given all of the sharply different economic, political and geographic challenges in the regions we surveyed, we found real parallels in terms of what is weighing heavily on employers,” said David Lusk, principal, Deloitte Consulting LLP and co-author of the report. “Attracting and retaining top talent is a universal theme.”
Top five priorities “The Top Five Global Employer Rewards Priorities Survey” series is an annual barometer of talent and rewards management challenges. Conducted globally for the first time this year, 27 different countries ranked the top five priorities for 2013:
- The ability of reward programs to attract, motivate and retain employees
- Clear alignment of Total Rewards strategy with business strategy and brand
- Motivating staff when pay increases are flat or non-existent
- The cost of providing benefits to employees
- Demonstrating appropriate return on investment for reward expenditures