Global Talent Programs Falling Behind, Reveals 2023 Talent Health Index
SYDNEY, AUSTRALIA – 13 Sept 2023. According to the recently released 2023 Talent Health Index by Cornerstone OnDemand, Inc., a leading provider of learning and talent experience solutions, global talent programs are falling behind. The comprehensive report, led by the Cornerstone People Research Lab, highlights the persistent gap between employees’ expectations and the actual provision of talent development programs. This disparity emphasizes the urgent need for organizations to invest more in holistic talent strategies to adapt to evolving workplace dynamics.
Key findings from the report indicate that employees are seeking more opportunities for development within their organizations. The survey revealed that 41% of employees feel they lack the necessary resources to enhance their skills. Furthermore, 65% of employees desire additional learning content, 62% seek more coaching and mentoring, and 59% are in search of increased career guidance.
The report also reveals that most organizations have significant room for improvement in their talent programs. The average Talent Health Index score categorized employers in the Administrative maturity level, indicating a mastery of the basics but limited exploration of innovative approaches. Organizations at this level demonstrate a lag in automation and lack a robust learning strategy.
Moreover, organizations are slow to adopt emerging talent innovations. Only 37% of organizations leverage learner-centric tools to streamline talent processes and information, and over 60% do not utilize AI technology to optimize their talent.
The report also addresses the persistent Skills Confidence Gap between employers and employees. While 88% of employers feel confident in their ability to develop their workforce, only 59% of employees share this sentiment, resulting in a significant 29% gap. The report reveals that this gap has remained stagnant at around 30% for several years, indicating that organizations have yet to provide the level of skills development and support desired by their employees.
However, not all organizations are falling behind in talent program maturity. High-Performing Organizations (HPOs), which exhibit higher customer satisfaction, productivity, employee retention, and overall performance, also scored higher on the Talent Health Index. On average, HPOs reached the Sophisticated level, especially excelling in Content Strategy, Skills Strategy, and Performance Management.
Employees at HPOs also reported higher satisfaction with their talent programs, noting tangible demonstrations of support for their development. Approximately 96% of employees at HPOs believe their organizations contribute to their professional growth, 92% express confidence in talent development initiatives, and 96% feel that their employers genuinely care about their well-being and advancement. Additionally, HPOs reported a 6% skills confidence gap, significantly smaller compared to the average organization’s gap.
Commenting on the research, Himanshu Palsule, CEO of Cornerstone, emphasized the importance of modernizing talent strategies and investing in employees to thrive in an ever-changing work environment. He encourages organizations to identify areas of opportunity and create talent programs that drive real business impact.
To help organizations assess their talent program’s maturity levels, Cornerstone has also released a free online self-assessment tool. By completing the assessment, organizations can gain valuable insights into their talent programs and receive a maturity level report guiding them towards effective strategies for further development.
In conclusion, the 2023 Talent Health Index highlights the need for organizations to enhance their talent programs to meet employees’ expectations for growth and development. By investing in comprehensive and innovative talent strategies, organizations can bridge the gap between employee aspirations and the actual provision of resources, leading to a more engaged and thriving workforce.
Take the free online self-assessment here to evaluate your talent program’s maturity level and access relevant resources for improvement.