* Watson Wyatt’s HR 2007 Technology Trends survey
With the oldest of Baby Boomers approaching retirement, succession planning is important in all departments of your organization. As such, many firms are considering overhauling their talent management systems, which of course has implications for IT.
“With labor markets tight and an onslaught of retirements predicted, succession planning is a priority for many companies and especially Boards of Directors,” says Brian Wilkerson, national practice director for talent management at Watson Wyatt. “Employers need to keep track of a broader pool of talent – and thoroughly analyze all candidates’ capabilities and experience. This is often more than current systems can handle, and it’s serving as a technology wake-up call for companies.”
Watson Wyatt’s HR 2007 Technology Trends survey is a study of 182 big companies. According to the results, 33% of companies plan to adopt succession planning technology in the next two years. Recruiting technology is also on the to-do list for 33% of respondents, learning management for 29%, and workforce planning for 26%.
An integrated talent management system should touch all levels and divisions of the organization to create talent pools from which future positions can be filled. This requires aggregating a vast array of data on workers and your organization, which poses a large integration project.
“While implementing a succession planning solution is driving many companies, putting in place an integrated talent management system can help streamline administration of a broad array of programs and really pay off for employers,” Hubbard says.
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