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HR services rank retaining and rewarding talent as biggest foreseeable challenge

Posted on November 12th, 2012 Read time: 1 minutes

According to a recent study by the Society for Human Resource Management, more than half of HR executives think retaining and rewarding the best talent and developing the next generation of corporate leaders will be the greatest challenges they will face over the next 10 years.

The study, Future HR Challenges and Talent Management Tactics, surveyed 487 HR professionals. One-third of respondents also believe creating a corporate culture and remaining competitive in the talent marketplace will be important challenges.

In comparison with results from 2010, executives today are more concerned with developing corporate leaders and are less concerned with breaking down cultural barriers to create a truly global company.

As HR administration in many companies is expected to foster a workforce community in an atmosphere of international expansion, 43 percent of respondents foresee obtaining and optimizing human capital as the biggest investment challenge. 

In an analysis of the data, Forbes contributor Meghan M. Biro suggests HR and company decision-makers need to work together and confront employees' fears about retirement. Biro writes that in order to retain talent, companies should reassure workers their organization provides education for corporate ascension. "In this new world of work," she writes, "Employees will need to reinvent themselves over and over again; employers must be able to support them in this task."

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