As companies struggle to create strategies engaging diverse age groups from millennials to baby boomers, HR Policy Foundation released today at the White House Upskill Summit its “Talent Sustainability Report: The CHRO View From the Front Lines of the War on Talent.”
The foundation found almost 70 percent of respondents indicated innovation and transformation occur more quickly today than normal, and, while this fits millennials, it increases challenges with older employees. With 40 percent of millennials missing soft skills in communication, though, they still have much to adapt to in the workforce.
"While skill life cycles are shortening, and competitive advantage is increasingly transient, it has never been more critical for companies to align their talent strategy with their business strategy,” said Jaime Fall, vice president of workforce and talent sustainability at HR Policy Foundation. “This report includes eye-opening future implications from CHROs and survey data that we hope will be used to encourage frank discussions about how employers, educators and policymakers can work together to develop the skills of future and current workers who are prepared for success in the workplace."
The report, compiled from yearlong research conducted by the HR Policy Foundation, included surveys of more than 100 large companies in fall 2014.
