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Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Key Findings
• Getting and Making the Most of Human Capital Is a K ey Priority. The biggest investment challenges facing organizations over the next 10 years are 1) obtaining human capital and optimizing human capital investments (47%), 2) obtaining financial capital and optimizing financial capital investments (29%), and 3) obtaining intellectual capital and optimizing intellectual capital investments (12%).
• To Attract and Keep the Best Talent, Organizations Should Allow Flexible Work Arrangements. Providing flexibility for employees to balance their life and work responsibilities is the most effective way to attract, reward and retain top performers, according to 58% of HR managers.
• Cultivate a Culture of Trust, Open Communication an d Fairness. Creating an organizational culture where trust, open communication and fairness are emphasized and demonstrated by leaders is a key human capital strategy.
• Keep a Clear Line of Sight Between Employees’ Work and Organizational Objectives. 40% of HR managers say that designing jobs to provide employees with meaningful work that has a clear purpose in meeting the organization’s objectives optimizes the organization’s ability to engage and keep top talent.
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Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
2%
11%
12%
29%
47%
0% 10% 20% 30% 40% 50%
Obtaining physical capital (e.g., factories, buildings,trucks, tools, machinery and equipment) and optimizing
physical capital investments
Obtaining technology and optimizing technological capitalinvestments
Obtaining intellectual capital and optimizing intellectualcapital investments
Obtaining financial capital and optimizing financial capitalinvestments
Obtaining human capital and optimizing human capitalinvestments
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What do you think will be the biggest investment challenge facing
organizations over the coming 10 years?
Note: n = 449. Percentages do not total 100% due to rounding.
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
What do you think will be the biggest investment challenge facing
organizations over the coming 10 years?
• Obtaining financial capital and optimizing financial capital investments (by operations): Organizations with U.S.-based operations (31%) were more likely than organizations with multinational operations (20%) to cite obtaining financial capital and optimizing financial capital investments as a major investment challenge facing organizations over the coming 10 years.
• Obtaining financial capital and optimizing financial capital investments (by union status): Organizations with unionized employees (40%) were more likely than non-unionized (26%) organizations to report obtaining financial capital and optimizing financial capital investments as the biggest investment challenge facing organizations over the coming 10 years.
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Comparison by Organization’s Operations Location an d Union Status
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
A 2010 survey of global C-suite executives, Company of the Future, commissioned
by SHRM with the Economist Intelligence Unit, found that C-suite executives
believe the two biggest challenges facing HR over the coming 10 years will be:
1. Retaining and rewarding the best people.
2. Attracting the best people to the organization.
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Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
According to HR professionals, the most effective tactics of meeting the
identified challenges of retaining and rewarding the best people and
attracting the best people to the organization are:
1%
4%
11%
11%
13%
14%
15%
21%
23%
29%
40%
47%
58%
0% 10% 20% 30% 40% 50% 60%
Other
Demonstrating the organization’s commitment to corporate social responsibility and sustainability
Providing employees with the latest tools to maximize work efficiency andeffectiveness
Creating a highly inclusive culture that uses diverse perspectives to optimizeorganizational performance
Developing human capital managers at all levels of the organization
Providing employees better opportunities to use their skills and abilities
Creating an organizational culture where employees are encouraged to makedecisions and take risks
Creating a stimulating and attractive organizational culture
Offering a higher total rewards package (i.e., total compensation and benefitspackage) than organizations that compete for the same talent
Demonstrating a commitment to employee development
Having jobs designed to provide employees with meaningful work that has a clear purpose in meeting the organizations’ objectives
Creating an organizational culture where trust, open communication and fairnessare emphasized and demonstrated by leaders
Providing flexibility to balance life and work
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Note: n = 449. Percentages do not total 100% as multiple response options were allowed. Respondents were asked to select up to three tactics.
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
According to HR professionals, the most effective tactics of meeting the
identified challenges of retaining and rewarding the best people and
attracting the best people to the organization are:
• Creating an organizational culture where trust, open communication and fairness are emphasized and demonstrated by leaders (by sector): Nonprofit (63%) organizations were more likely than publicly owned for-profits (40%) and privately owned for-profits (43%) to report that creating an organizational culture where trust, open communication and fairness are emphasized and demonstrated by leaders is the tactic most effective in meeting the challenges facing HR over the next 10 years.
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Comparison by Organization’s Sector
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Demographics: Organization Industry
IndustryManufacturing—other 16%
Health care, social assistance (e.g., hospitals, clinics, doctor's offices, in-home care, nursing homes, EAP providers, hospice)
11%
Financial services (e.g., banking) 9%
Services—professional, scientific, technical, legal, engineering 8%
Retail/wholesale trade 6%
Consulting 6%
Educational services/education (e.g., universities, schools) 4%
Government/public administration—federal, state/local, tribal 4%
Insurance 4%
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Note: n = 431.
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Demographics: Organization Industry (continued)
IndustryOther services (e.g., other nonprofit, church/religious organizations) 4%
High-tech 3%
Transportation, warehousing (e.g., distribution) 3%
Manufacturing—auto/auto-related 2%
Telecommunications 2%
Construction, mining, oil and gas 2%
Publishing, broadcasting, other media 2%
Pharmaceutical 2%
Real estate, rental, leasing 1%
Services—accommodation, food and drinking places 1%
Utilities 1%
Arts, entertainment, recreation 1%
Biotech 1%
Association—professional/trade 1%
Other 6%
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Note: n = 431.
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Demographics: Organization Sector
3%
6%
17%
26%
48%
0% 10% 20% 30% 40% 50% 60%
Other
Government sector
Nonprofit organization
Publicly owned for-profit organization
Privately owned for-profit organization
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Note: n = 429
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Demographics: Organization Staff Size
12%
30%28%
21%
10%
0%
10%
20%
30%
40%
50%
50 to 99 employees 100 to 499 employees 500 to 2499employees
2500 to 24999employees
25000 or moreemployees
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Note: n = 273. Percentages do not total 100% due to rounding.
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
Demographics: Other
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Note: n = 438
U.S.-based operations 72%
Multinational operations 28%
Single-unit company: Companies in which the location and the company are one and the same.
28%
Multi-unit company: Companies that have more than one location.
72%
Multi-unit headquarters determines HR policies and practices
44%
Each work location determines HR policies and practices
3%
A combination of both the work location and the multi-unit headquarters determine HR policies and practices
53%
Is the organization a single-unit company or a multi-unit company?
Are HR policies and practices determined by the multi-unit corporate headquarters, by each work location or both?
Does the organization have U.S.-based operations (business units) only or does it operate multinationally?
Note: n = 419
Note: n = 322
• 13% of organizations indicated that employees at their work location were unionized.
Note: n = 425
Challenges Facing Organizations and HR in the Next 10 Years | ©SHRM 2010
SHRM Poll: Challenges Facing Organizations and HR in the Next 10 Years
• Response rate = 17%• Sample comprised of 449 randomly selected HR
professionals with the job title of manager and abo ve. • Margin of error is +/- 5%• Survey fielded August 10 – August 23, 2010
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Methodology
For more poll findings, visit: www.shrm.org/surveysFollow us on Twitter: http://twitter.com/SHRM_Research