The first two reports in Deloitte's series about talent in a turbulent economy - "Threading the Talent Needle: What Global Executives are Saying about People and Work" and "Managing Talent in a Turbulent Economy: Playing Both Offense and Defense" - are, respectively, based on 28 one-on-one interviews with executives from global companies and an on-line survey of 326 executives also from global companies. These reports offer key findings and insights around ways talent is being managed in these difficult economic conditions:
* CEOs are playing a greater role in talent management - Two-thirds of the interviewed executives mentioned that their CEO is connecting more with employees around the globe - particularly those with high potential.
* While companies are focused on reducing costs and headcount, they are making unexpected moves - For example, 52 percent of the executives surveyed report their company plans to restructure jobs to lower costs and increase efficiency. In addition, 40 percent of polled executives report they will try to attract more critical talent with hard-to-find skills, while 30 percent report they are looking to bring on more critical leaders.
* Important work force analytical tools are being left in the toolbox - In an environment where companies are continually rebalancing workforces to match difficult times, restructuring jobs to cut costs and increase efficiency and redeploying employees to make the most of current talent, 66 percent of polled executives acknowledge that workforce planning is not being integrated with their annual business planning, their contingency planning or even being updated as a result of the changing economic conditions.
* Innovative practices are being implemented to address talent challenges - More than 25 percent of the executives shared that they will increase innovative work practices, such as the use of flexible work schedules through measures like telecommuting and reduced work weeks to engage and retain key talent.
