Survey Finds Employers Plan to Increase Workforce Investment

According to a press release, 35% indicated their workforce expenses will remain the same, and only 5% expect a decrease. Fifty-seven percent of respondents reported being affected by reductions in their companies’ workforces as a result of the economic crisis, while 40% reported no layoffs or reductions as a result of strain economic conditions.

Among the 35% of Trendsetter CEOs that believe they will have to fill in some skills gaps, 82% are planning to fill the gap by hiring new talent, and 68% plan to train/develop existing talent. In addition, 32% plan to redeploy talent, and 22% plan to use contractors as means to fill skills gaps at their companies.

Over the next 12 months, 39% of private company CEOs also plan to invest or are currently investing in talent management programs, while approximately 54% reported they have no plans to invest. The goal of talent management programs cited by 88% of those currently investing or planning to invest in these programs, is to better capitalize on existing workforces. One-in-five (20%) reported their goal is to better position their company from a recruiting perspective as an employee of choice as the economy recovers.

Only 8% of private companies’ CEOs claim to know what return their companies are currently getting from their investment in critical talent, while 67% do not know.

The majority (61%) of Trendsetter CEOs believe their companies’ current workforce is well aligned to business objectives that must be met over the next 12-24 months, 34% believe they are only somewhat aligned, and only 2% believe their company is not well aligned. Sixty-one percent indicated their organizations have the right skills at the management level to effectively lead their company over the next 12-24 months.

More information is at http://www.barometersurveys.com.