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[IWS] Towers Watson: 2013-2014 TALENT MANAGEMENT AND REWARDS STUDY--NORTH AMERICA [December 2013]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
2013-2014 TALENT MANAGEMENT AND REWARDS STUDY--NORTH AMERICA [December 2013]
The Targeted Employee Value Proposition: Drive Higher Performance Through Key Talent and Differentiated Rewards
[full-text, 16 pages]
The 2013 – 2014 Talent Management and Rewards Study, North America: Key Findings
A substantial number of organizations in 2013 reported problems attracting and retaining key employee groups, and the percentages of employers that report diffi culty are rising.
• 66% have problems attracting critical-skill employees. Workers with the knowledge and skills that organizations need to compete are harder to fi nd, and oftentimes command a premium.
• 49% have trouble attracting high-potential employees. In some industries, demographics play a big role in the talent shortage. In others, changes in technology make it diffi cult to keep up with increasing demand and the need to master new skills.
• 48% have a hard time attracting topperforming employees, and more than a third (35%) struggle retaining them. Employers continue to reevaluate how to fi nd and keep the talent they need — traditional methods don’t always work. Targeted differentiation and effective career management are proving more critical than ever.
• 41% have problems retaining critical-skill employees, and the percentages have been trending upward the last four years. This will become an even greater challenge as companies work to attract top talent away from their competitors.
EVP and Total Rewards 2
Key Findings 3
The High-Performance Strategy:
Reinvigorate, Rethink, Reallocate 4
Reinvigorate Career Management Strategies:
The Attraction and Retention Priority 5
Rethink the Manager Role:
Equip Managers to Engage Critical Talent 8
Reallocate and Differentiate Rewards:
Reflect the Organization’s EVP 10
About the Study 13
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