PeopleStreme Human Capital Blog Latest News and Research in Performance, Talent Management and Engagement

PeopleStreme has released a new Whitepaper entitled "The Journey of Human Capital Management - In 6 Steps" as part of the firms Talent Management Whitepaper suite. The download is available at http://www.peoplestreme.com/ihr3-usr-mail.asp

PeopleStreme has posted a 53% rise in sales revenue compared to the previous six months. "The outlook is accelerating." said CEO, Lyle Potgieter. Potgieter responded to the result by doubling the size of PeopleStreme's new business development and account management teams. Australia's uptake of Human Capital Management systems is accelerating because early adopters are achieving significant results from their online performance management, talent management, elearning and erecruitment systems.

PeopleStreme had a strong turnout for the post conference Talent Management workshop. Delegates were able to network and explore best practice in Australian Public Sector Talent Management including : Identifying top talent, creating talent pools and building retention plans Managing risk and retention for an ageing workforce Employee engagement and how it correlates to organisation metrics such as absenteeism, employee turnover, lost time injury frequency rates Teaching public sector managers how to address ongoing talent management issues Our newly developed workshop has a highly interactive workshop format and was very well received with an average rating of 4.6/5 Thanks to all the participants for a very interactive, thought provoking session.

The growing presence of Generation Y is creating the need for new talent management practices. According to PeopleStreme CEO, Lyle Potgieter “The global shift to knowledge economies means that industrial age management must give way to new talent management solutions. Engagement levels of Generation Y are the lowest of the three generations and they expect to be managed differently”. Furthermore, due to the skills shortage in Australia, Generation Y is faced with an abundance of career opportunities. High mobility levels coupled with low engagement levels suggest it is now necessary for employers to actively manage progression and training towards career aspirations. Both career planning and talent identification processes now form a part of many talent management software and consulting solutions. Recent research suggests that by 2015 Generation Y will account for 40% of the workforce as will Generation X, while Baby Boomers will decline by 22% to a total of 20%. According to the Australian Bureau of Statistics, Generation Y is an emerging generation of workers whose numbers will continue to grow and be predominant in the workforce for at least 20 years. This poses new challenges for managers as diminished employee engagement in Generation Y workers will require their career and lifestyle needs to be better satisfied. A recent study found that 63% of Gen Y will voluntarily exit a company in two years or less. There is a strong corelation with trends in the United States. In contrast, the older generations said they expect to stay for six years, on average. As a result retention strategies need to be actively managed and developed in order to retain key Gen Y talent . Generation Y has been brought up with access to cutting edge technology and they place a high importance on education. As a result they expect ongoing education after entering the workforce. “Generation Y have greater aspirations, are more results driven and expect regular feedback on their progress”, Potgieter commented. A recent research study has shown that 78.9% of the Generation Y workforce hold ongoing training and development of high importance to them. Furthermore, the same research concluded Gen Y workers are 89.6% more likely to stay with an employer if they receive regular training and development. A fact sheet containing researches sources is available on request from Carina Salem at PeopleStreme.    

The world of Talent Management is changing very quickly with the advent of new technology. A clear requirement has emerged to manage high potential employees more effectively. As economies emerge from the Global Financial Crisis, talent turnover is accelerating once more. To learn more about 7 Trends in Talent Management, please click here.

Our latest video was just posted to YouTube. It contrasts industrial age people management with what should be happening in the information age. The link is http://www.youtube.com/watch?v=Lu9QWojx8qE