As employers try to develop an understanding of the current talent market, two major trends stand out. Firstly, the increasing pace of change along with shortening product life cycles, decreasing employee loyalty, and political fragmentation, all contribute to significant uncertainty, rendering long-term planning complex and difficult. Secondly, with the world economy coming to a halt in the wake of the Great Recession, employers need to brace themselves for an extended period of low or even no growth, with major implications for talent management.
On a positive note, technological innovation – like Big Data and End-to-End Systems – is reshaping the scope and nature of the HR function, opening up new ways for it to add business value and become more strategic.
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