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TheStreet Open House

HR Professionals In North America Reveal High Value Of Innovation But Confirm Significant Barriers To Adopting 'best Practice' Methods

Stocks in this article: KFY

LOS ANGELES, Aug. 13, 2013 /PRNewswire/ -- Globally 74% of HR professionals admit their organization should be doing more to demonstrate innovation in recruitment and talent management. However, a global study has revealed that in the US, a lack of senior buy in alongside a shortage of both financial investment and time, are the main barriers hindering the adoption of more innovative practices.

Within the global study, carried out by Futurestep – a Korn/Ferry company - recruitment and talent management professionals from eight countries admitted that using innovative methods in recruitment was key to winning the war for talent. When asked why innovative methods of recruitment should be adopted, 42% felt it was crucial in securing the best talent and a further third that it was key in hiring niche or hard to find talent (33%). And yet just over a quarter (27%) of US recruitment and talent management professionals have access to an R&D/innovation budget to improve performance in HR.

This sentiment was backed up by employees globally who revealed that they would be more likely to take a role if they felt the company using particularly innovative methods of interacting with them at the recruitment stage.

The study goes on to reveal that recruitment and talent management professionals believe professional online communities and online talent communities will be the most influential recruitment methods in the future – followed by mobile campaigns.

Respondents also provided a glimpse of what the employee lifecycle would look like globally in an ideal world. The practices that they would like to be using but are not currently are:

  • Recruitment: Mobile campaigns; creative advertising and bespoke talent communities
  • Engagement: Creative office environments and working spaces; sharing strategies and innovative flexible working processes
  • Development: International secondment programs; external training and external mentoring

"Whilst innovation is on the minds of talent and recruitment professionals in the US, failure to secure buy-in from the board means HR departments are suffering from a lack of dedicated funds, as well as time, to develop these innovative processes," said William Sebra, President of Futurestep North America.  "It is vital, particularly in a market as competitive as the US, that businesses are able to attract and retain the best talent available in order to drive growth in a continually challenging economic climate. However, at present, these obstructions are threatening to damage many organizations ability to deliver the talent demands of the businesses."

Follow the conversation on Twitter @futurestep #InnovationImperative

The full study, entitled 'The Innovation Imperative', is available for download from www.futurestep.com/innovate

Notes to editors

To develop this research, Futurestep conducted online surveys with two audiences: HR/recruitment/talent management professionals (Professionals) and employees (Candidates) from a range of industries in the UK, USA, Australia, France, Germany, Brazil, India and Greater China (an amalgamated market comprising Hong Kong and China).

100 Professionals were surveyed in each market, all of whom hold senior positions in companies of 250+ people. Professionals all held one of the following job titles: CHRO/HRD/VP, VP/Director/Head of Talent/Recruitment/ Talent Management, HR/Talent/Recruitment Manager, or, HR/Talent/Recruitment Executive. This fieldwork was supported by research with 500 Candidates (all of whom were in active employment when surveyed) from each market.

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