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The key challenges for business in 2007 and beyond

By Sue Mennell (03-05-2007)
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Learning and Development News - The key challenges for business in 2007 and beyond

The findings of The Ken Blanchard Companies' fifth annual Corporate Issues Survey suggests increased competition and the challenges of attracting and retaining a skilled workforce are key issues for 2007. The survey of 1,091 international HR managers and business leaders indicates that few expect the situation to improve before 2010.

The survey looked at three areas: organisational challenges, management challenges and employee development challenges. Respondents were also asked to anticipate what their top issues might be three years ahead. 
 
The number one organisational concern was increased competition (65% overall). Issues of attracting talent and differentiating products and services in a hightly competitive market were also cited.

Developing potential leaders was the number one management challenge (64%) for the fifth year running. Sselecting and retaining key talent and creating an engaged workforce took second and third place (62% and 43%), again for five consecutive years. However, HR believed selecting and retaining key talent was their second greatest management challenge, while management rated this fourth. HR also placed far greater importance on succession planning. All respondents believe the ‘talent war’ will be an even greater issue in three years time.
 
Developing managerial and supervisory skills were the key employee development concerns (64%),  followed by customer relationship skills (52%). Developing interpersonal skills came third. However, responses from top management and HR differed in these areas; 61% of management rated customer service as the most critical employee development need, while HR rated it fourth, at 44%. HR also sees developing manager/supervisor skills and executive development as a much higher priority (83% and 47% respectively) than do executives themselves (59% and 36%). Management also rated IT and sales skills higher than HR personnel.  The highest percentile increase in people development challenges expected in 2010 were rated for manager/supervisor and IT skills. 
 

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