Navigating employee development challenges in the workplace
Many organisations face a significant challenge in meeting their employees’ development needs, as highlighted in Cornerstone OnDemand’s 2023 Talent Health Index.
Within the report, 41% of employees expressed dissatisfaction with the available opportunities to enhance their skills within their respective organisations. Additionally, the findings revealed that 65% of employees actively seek more learning content, 62% desire additional coaching and mentoring, and 59% are in search of improved career guidance.
Specifically, the average Talent Health Index score in Singapore and Hong Kong stands at 85.4, placing them within the “Administrative” category. While these organisations may not be at the starting line, they certainly have room and opportunities to enhance their talent programmes. Furthermore, 38% of organisations in Singapore and Hong Kong leverage learner-centric tools and technologies to streamline talent processes and information flow.
The report also uncovered a persistent skills confidence gap between employers and employees. While 88% of employers expressed confidence in their ability to develop their employees’ skills, only 59% of employees share this sentiment, resulting in a persistent 29% gap year after year. In Singapore and Hong Kong, 93% of employers feel confident in their skill development ability, but only 62% feel the same.
In contrast, high-performing organisations (HPOs) serve as models of successful talent development. These organisations excel in customer satisfaction, productivity, retention, and overall performance. They also achieve higher scores in the Talent Health Index, often reaching the “Sophisticated” level. HPOs exhibit maturity levels in content strategy, skills strategy, and performance management. Their employees report higher levels of satisfaction with talent programmes, with 96% believing their organisation supports their development, 92% expressing confidence in talent development initiatives, and 96% feeling that employer cares about their growth.
Himanshu Palsule, CEO of Cornerstone, concluded, “In an environment of constant change, workforce innovations, and new cycles of talent development, improving the maturity of your talent programmes is critical. The secret to adapting to all these new workplace changes and thriving in the future lies in an organisation’s willingness to modernise their talent strategies and invest in their people.”
To see how your talent programme stacks up on the maturity model, take the free, online self-assessment here.