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Top Human Resources Challenges for 2010

When it comes to meeting the human resources challenges of 2010, the order of the day calls for an attention to “nutrition,” “make-up” and “wardrobe.”

Nutrition
Where do we need to lose and where do we need to beef up?

For those pulling in their belts, projects still need to be completed on time and on budget to remain competitive. This requires careful evaluation of current and future talent needs.

A recent SHRM report found that companies are recognizing the value of former employees who can return for short- or long-term project needs. The use of former employees not only saves on training and recruiting costs, but these seasoned veterans can hit the ground running.

Leveraging the experience and skill set of this talent pool will deliver increased returns. By 2012, those who are 45 years and older will account for 40 percent of the workforce. This older crowd will also have the most disposable income. Innovative companies that offer late career initiatives recognize that this key age group is a valuable source of talent.

Companies adding to their talent pool must not grow indiscriminately. HR professionals must carefully review needs and then target companies shedding talent. Timing is paramount. HR professionals need to communicate internally to identify those who are—or soon will be—in the job market. These personal networks can help position them first in line when key talent becomes available.

Make-up
How do we look on the outside? What is our perceived employee value proposition in the marketplace?

When you consider the following statistics, it is not what you as an HR professional say, nor what the company advertises. What matters most is what your employees are saying about the company to their network of friends, family and associates. Consider the following:

• 77 percent of people trust family and friends above retailers.
• People are three times more likely to trust peers over advertising.
• 83 percent of the population participates in some form of social media.

Perception is everything. To attract the best talent out there, companies need to make sure they are presenting their best face to current employees.

Wardrobe
Are we dressed for the current marketplace?
Business is increasingly global, and successful companies are more committed to looking like the communities and cultures in which we do business.

Further, HR professionals must take into account current issues. From executive salary caps to tightening environmental and financial regulations, HR needs to stay abreast of hot-button issues and adjust its sourcing strategy to capitalize on these issues.