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23 Oct 2014HR: Latest Talent Trends Survey Reveals a Growing War for Talent in Africa
Recent Gauteng Business News
The survey has found that technical and professional skills in particular are in demand, with over a third of those surveyed saying that their demand for technical and professional skills was expected to grow over the next 12 months.
Over 300 companies across 23 African countries, representing over 400,000 employees participated in the survey, giving a unique and comprehensive view of human resource trends across the continent.
At the same time as competition for talent is increasing in Africa, the labour market is not expected to get any easier. Three-quarters of companies expect labour market regulation to increase, while at the same time only a third of organisations find labour market institutions to be effective. Nearly two-thirds of respondents across the continent believe that trade unionism or collective employee action is increasing in their country.
“Greater competition for skills means that organisations need to be more deliberate in how they plan for, attract and retain staff,” said David Storey, EY’s EMEIA People and Organisation Change Leader. “Interestingly, we’ve found that pay is not the primary factor for attracting talent, but employer brand. Providing valuable learning and development opportunities is cited as the most important factor for retaining talent by our survey participants.”
EY’s survey found that less than half of all companies have a formal performance management process in place, and less than a quarter of companies across Africa use a remuneration committee to govern employee pay.
“Overall our survey has found that while a majority of organisations see key talent management practices (such as leadership development programmes, succession planning and defined career ladders) as being important in their quest to attract and retain the best talent, they often lack the capacity to implement them,” added Storey.
Business News Sector Tags: HR|
