Identifying and developing talented employees will be the primary focus of HR executives in the financial services industry over the next 12 months, according to a poll.
The Towers Watson poll also finds that 25% of executives will focus on updating their HR technology over the next year. Roughly one in 10 says the primary focus will be on compensation and benefits, workforce planning or employee engagement initiatives.
“Given the dramatic changes that the financial services industry is undergoing from both a regulatory and business perspective, it’s no surprise that HR leaders will be focused on talent management,” says Ravin Jesuthasan, global leader of talent management at Towers Watson. “The landscape for talent has been changing steadily, driving financial services executives to identify what skills will be needed for them to compete effectively, and develop programs to attract and retain the best talent for their organizations.”
Respondents were also asked which talent management initiatives will receive the most attention at their organizations over the next 12 months.
Forty-two percent cite both manager effectiveness (assessing and developing managers’ ability to manage the work environment, develop people and energize change) and performance management (developing the processes and programs that link performance to compensation and other talent management programs) as getting the most attention.
Relatively few cite career architecture (12%) or competence development (4%) as talent management areas that would receive the most focus.
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