DGAP-News: Talent Wars Rage Despite Recession, Finds Heidrick&Struggles
ID: 398856
04.05.2011 13:00
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Heidrick&Struggles Data Points to a Shrinking Pool of Qualified Talent, as
United States Retains Top Spot Worldwide
CHICAGO, 2011-05-04 13:00 CEST (GLOBE NEWSWIRE) --
The Heidrick&Struggles Global Talent Index released today shows that demand
for talent across the globe is outstripping supply and that countries are not
moving fast enough to prepare workers for the needs of tomorrow's economy. In
addition, the report finds one in three executives worldwide are not satisfied
with the quality of hires over the last two years, raising questions about the
ability of companies to provide sustained economic growth, according to the
leadership advisory firm.
'Our talent index points to looming talent wars, and the best employees will
vote with their feet and move to regions and companies that provide them with
the best opportunities,' said Kevin Kelly, CEO of Heidrick&Struggles
International, Inc. (Nasdaq:HSII), the leadership advisory firm providing
executive search and leadership consulting services worldwide.
'Nations aren't developing their talent effectively - hindering economic
opportunities for their future. The most pressing question is determining which
regions are cultivating workers who will bring home domestic success tomorrow.
Right now, there isn't a clear-cut winner,' Kelly said.
According to the Global Talent Index, the United States leads the world for
talent and is projected to remain at the top spot in 2015. At the same time,
other countries are closing the gap with the U.S. due to increased spending on
education and more open labor laws - pointing to future concerns about
competitiveness.
Key Global Talent Index Findings:
-- China will make significant jump - China is projected to have the largest
score improvement in 2015, boosted by Beijing's increasing willingness to
embrace foreign workers.
-- Canada will leap due to energy boom - Canada is projected to have the
greatest movement in the index from today to 2015, moving six spots to
number 8, as a result of increased investment in its economy from the gas
and oil industries.
-- India's workforce is eye-catching - Despite India's own rapid rise in
employment opportunities, it is unfortunately offset by a continuing poor
standard of mainstream education.
-- Nordic power play - The Nordic region is represented by four countries in
the 2011 top ten. Denmark, Finland, Norway and Sweden all benefit from high
government spending on education.
-- Europe needs additional manpower - European countries overall maintained
their rankings from today to 2015, but they are challenged by a low birth
rate.
-- Asia Pacific is on fire - Singapore and Hong Kong economies benefit from
their openness to international trade, thus catapulting them upwards on our
index.
-- Australia has top-notch education - Australia comes in at sixth place on
the index, in large part because of its high-quality universities and labor
force.
The Heidrick&Struggles Global Talent Index was completed in partnership with
the Economist Intelligence Unit, which developed a proprietary methodology to
rank 60 countries on their ability to attract and retain talent.
'Companies' competition for talent is certain to become fiercer in the
developing world in the coming years,' said Denis McCauley, Executive Editor,
Business Research with the Economist Intelligence Unit. 'The talent index
clearly shows that the emerging countries, China and India in particular,
cannot improve their infrastructure fast enough to keep up with the growth of
their white-hot economies.'
In addition, Heidrick&Struggles commissioned a survey of more than 400
executives to gauge their attitudes on hiring prospects, showing that many
executives are concerned about the ability of their recruits. Among other
findings of this year's Talent Index:
-- Half of executives surveyed report devoting more time and resources to
bring employees up to speed, compared to two years ago.
-- A full 41 percent of respondents said that limited creativity in overcoming
challenges is a primary shortcoming of management-level hires, with limited
experience within a multinational organization.
-- In Asia, a full 52 percent of executives said their workforce is limited by
a lack of creativity, which leads to problems in adapting to changing
circumstances.
'We know that having the right people in place is one of the greatest
competitive advantages for a company, and our talent survey points to a number
of questions about whether the workforce is ready to meet the challenges of the
future,' Kelly said.
For in-depth analysis of each country and the results of the survey, please
visit www.GlobalTalentIndex.com.
About the Global Talent Index:
The research undertaken for the study by the Economist Intelligence Unit
consisted of three main initiatives. First, the Global Talent Index launched
initially with 30 countries in 2007, was updated and also expanded to include
60 countries. The Index benchmarks countries on their capacity for developing,
attracting and retaining talent, both today and projected to 2015. Second, to
gauge corporate views on the talent outlook for businesses, a global survey of
441 senior executives - nearly half having human resource management
responsibilities -was conducted in late 2010 and early 2011. To complement the
quantative research, discussions were also held with senior human resources
executives and experts to obtain their insights on the most pressing talent
challenges facing businesses and countries.
About Heidrick&Struggles International, Inc.
Heidrick&Struggles International, Inc. (Nasdaq:HSII) is the leadership
advisory firm providing senior-level executive search and leadership consulting
services, including succession planning, executive assessment and development,
talent retention management, transition consulting for newly appointed
executives, and M&A human capital integration consulting. For almost 60 years,
we have focused on quality service and built strong leadership teams through
our relationships with clients and individuals worldwide. Today, Heidrick&Struggles' leadership experts operate from principal business centers in North
America, Latin America, Europe and Asia Pacific. For more information about
Heidrick&Struggles, please visit www.heidrick.com.
CONTACT: Wendi Taylor Nations
+1 (312) 496 1810
wtaylornations@heidrick.com
News Source: NASDAQ OMX
04.05.2011 Dissemination of a Corporate News, transmitted by DGAP -
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Datum: 04.05.2011 - 13:00 Uhr
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