1. External and Internal drivers that impact retention strategies followed by the organisation
There are several internal and external drivers that drive the talent retention crisis strategies which are tremendous challenge for the organizations to retain talent pool.
External drivers that impact retention strategies
• Skills shortage: [Article from Economic Times dated July 20 2014] “The global PwC survey of over 1,300 CEOs in 68 countries reveals that after a number of years of headcount cuts, half of organisations surveyed are looking to hire again. Despite the positive outlook for jobs, PwC's research revealed that business leaders are more concerned than ever about being able to find the right people to fill these roles.”The gap between the skills of the current workforce and the skills businesses need to achieve their growth plans is widening. Despite rising business confidence equating to more jobs, organisations are struggling to find the right people to fill these positions," PwC global HR consulting leader Michael Rendell said. CEOs in Africa (96 per cent), the South East Asian nations (90 per cent) and South Africa (87 per cent) are most concerned about the lack of skills. Technology and engineering firms are struggling the most with the shortage of skilled employees.”
• Aging Workforce: Aging workforce is more of an issue …show more content…
Due to hectic traffic on the roads, commute to company every day has become
There are several internal and external drivers that drive the talent retention crisis strategies which are tremendous challenge for the organizations to retain talent pool.
External drivers that impact retention strategies
• Skills shortage: [Article from Economic Times dated July 20 2014] “The global PwC survey of over 1,300 CEOs in 68 countries reveals that after a number of years of headcount cuts, half of organisations surveyed are looking to hire again. Despite the positive outlook for jobs, PwC's research revealed that business leaders are more concerned than ever about being able to find the right people to fill these roles.”The gap between the skills of the current workforce and the skills businesses need to achieve their growth plans is widening. Despite rising business confidence equating to more jobs, organisations are struggling to find the right people to fill these positions," PwC global HR consulting leader Michael Rendell said. CEOs in Africa (96 per cent), the South East Asian nations (90 per cent) and South Africa (87 per cent) are most concerned about the lack of skills. Technology and engineering firms are struggling the most with the shortage of skilled employees.”
• Aging Workforce: Aging workforce is more of an issue …show more content…
Due to hectic traffic on the roads, commute to company every day has become