The latest report from The Predictive Index on The State of Talent Optimization in 2021 surveyed over 500 executives from businesses across the globe and spanning multiple industries and found that talent optimization is a differentiator, even in a difficult business year.
Some key findings included that more companies now have a talent strategy.
55% of respondents have a talent strategy in place up from 37% last year. Talent strategies are increasingly common, but not all talent strategies are created equal. Only 23% of executives say they aligned their business and talent strategies.
They also found that everyone is wrestling with burnout, but talent optimized companies are addressing it more proactively. Employee engagement and productivity were cited as the two greatest challenges moving forward for companies implementing remote work policies and remote work has businesses more attuned to their people problems.
A major finding was that talent optimization helped prevent major losses. 93% of talent-optimized companies were able to prevent major financial loss as compared to 76% of peers. Talent-optimized companies weathered the storm better than companies without aligned business and talent strategies.
99% of talent-optimized companies are confident in their post-COVID business strategy. Companies that don’t practice talent optimization saw confidence dip 3% over the past year.
Lastly, talent-optimized companies are more in touch with engagement. The more actively assessed engagement (69%) than companies without aligned talent and business strategies. Talent-optimized companies are monitoring engagement more often than non-talent optimized companies and have a better sense of how to benchmark it. To read the full report, click here.