The report, Creating People Advantage: How to Address HR Challenges Worldwide Through 2015, generated on the back of a worldwide study to identify executives’ HR priorities now and in the future, reveals that talent management is the number one challenge in every region and every industry.

The need for good talent management is most urgent in the United States, Australia, Singapore, Japan and the United Kingdom and is said to be a reflection of increasing globalisation and competition.

Organisations everywhere are seeking to address the problem by recruiting talented employees from across the globe.

The study was completed by The Boston Consulting Group (BGC) and the World Federation of Personnel Management Associations (WFPMA). 

BCG partner and co-author of the report Rainer Strack said: “Creating a ‘people advantage’ will increasingly translate into competitive advantage.”

The report reveals other top HR challenges include improving leadership development and managing work/life balance.

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