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UNITED KINGDOM - HR Leaders Face Fresh Challenges in 2009 as the Economy Slows
Third Annual Research Survey Shows Organisations are Looking for Better Tools to Identify and Engage Talent; Many Expect to Do More with Less BudgetLondon, UK: 5 January 2009 – Taleo Corporation, the leading provider of on-demand talent management solutions, today announced results of new research entitled ‘HR Challenges in 2009’. Conducted by Taleo Research, the survey found that HR managers are anticipating a change of focus in the coming year. As the global economic crisis continues to impact businesses, employee retention is seen as the greatest challenge overall. This reflects the need for organisations to identify and retain top talent during a period when internal mobility is essential to retain a competitive edge and ensure company survival as the UK economy slows.
For the third consecutive year, the survey asked more than 150 senior HR managers in the United Kingdom about their biggest challenges in the coming 12 months, what tools they need to help optimise HR performance, and their HR budget expectations.
Since 2006, the ‘HR Challenges’ research has found that employee retention is the biggest concern for HR managers. In an unstable economy, employee engagement tools such as effective goal alignment, internal mobility, career planning and succession programmes are essential for motivating the workforce. According to the report, almost half of HR managers named ‘a system to improve performance management, succession and career planning’ as the one thing that would help them do their jobs better in 2009.
Highlights from the research include:
• As in 2006 and 2007, employee retention was seen as the biggest HR challenge for the coming year, ranking as the number one concern.
• Almost half (48%) of respondents want ‘a system to improve performance management, succession and career planning’ in 2009.
• In a reversal of last year’s research, more HR managers expect their budget to decrease (25%) rather than increase (22%). About half (54%) expect no change.
• More than half (56%) of management teams view HR as an enabler or driver of their business. Just 20% see HR purely as a hiring function.
“Whilst the current economic climate is clearly influencing the agenda for HR leaders, the challenges of retaining, motivating and aligning employees remain a priority. The results show that more than ever there is pressure on HR to deliver real business impact, and to do so with HR costs constrained,” said Chris Phillips, Vice President of International Marketing for Taleo. “Intuitive talent management systems, designed for the business as well as HR, can play a critical part in ensuring the organisational adoption of any talent strategy. The number of respondents prioritising the need for performance management, succession and career planning systems shows that HR managers realise the importance of enabling technology in executing talent management programmes.”
About Taleo
Taleo (NASDAQ: TLEO) is the leader in on demand unified talent management solutions that empower organizations of all sizes to assess, acquire, develop and align their workforces for improved business performance. More than 3,800 organizations use Taleo for talent acquisition and performance management, including 47 of the Fortune 100 and over 3,000 small and medium sized businesses across 200 countries and territories. Known for its strong configurability and usability, Taleo runs on a world-class infrastructure and offers 99.9% availability. Taleo's Talent Grid harnesses the resources of the Taleo community of customers, candidates, and partners to power the talent needs of companies around the world.
Forward-looking Statements
This release contains forward-looking statements, including statements regarding the demand for Taleo’s solutions, the results from using Taleo’s solutions, and general business conditions. Any forward-looking statements contained in this press release are based upon Taleo's historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Taleo's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Taleo disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Further information on potential factors that could affect actual results is included in Part I, Item 1A of Taleo’s Annual Report on Form 10-K, as filed with the SEC on March 14, 2008, in Part II, Item 1A of Taleo’s Quarterly Report on Form 10-Q, as filed with the SEC on August 11, 2008, and in other reports filed by Taleo with the SEC.
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