A Bersin by Deloitte survey indicates companies need redraw their human resources management strategies to remain competitive as the nature of the workforce changes, Principal and Founder Josh Bersin says.
“Given the radical shifts in demographics and technology, doubling down on the human capital practices of the past will not be enough to get the job done,” he said Tuesday.
“Organizations should re-imagine their approach to engaging people and move to re-engineer many of their HR practices,” Bersin added.
The Deloitte Global Human Capital Trends 2014 survey highlighted retention and leadership development as major hurdles to dealing with highly-connected 21st century employees, the firm says.
According to Deloitte, many organizations are unsure of how to deal with changing talent markets, including how to approach new expectations coming from the Millennials demographic and emerging technologies that modify the work environment and scope.
Respondents also singled out reskilling the HR function among their biggest challenge, the survey says.
The global talent management survey includes input from over 2,500 business and HR leaders in more than 90 nations over 15 years of research, Deloitte said.