By Freya Purnell
The annual Randstad World of Work report has revealed that a quarter of Australian businesses regard falling productivity and workplace performance as their major concern, with over half (52 per cent) rating their ability to face the challenge as either average or poor.
Only 5 per cent of Australian business leaders said they are in an excellent position to improve workplace performance in the coming year.
These results compare poorly with those of other countries in the region, with productivity noted as a major concern by only 17 per cent of businesses in Malaysia, Hong Kong and Singapore, and by 19 per cent of businesses in India.
Randstad strategic account director Mike Roddy said that the rapid growth of these neighbouring economies means workforce issues should be a primary focus for business leaders.
“With Asia-Pacific economies and regional business sectors on a growth trajectory, the onus is on local business leaders to ensure their organisation is conducive to a productive, high performing and positive workforce,” said Roddy, adding that workforce management needs to be a central business consideration in the coming year.
Almost two thirds (63 per cent) of local business leaders said they were concerned about attracting high calibre employees, while 67 per cent say they are worried about their ability to attract talented middle managers into their organisation.
However, this concern about employee attraction hasn’t led to an increased focus on workforce planning or leadership development, with 82 per cent of businesss saying they only plan their workforce a year or less in advance.
Over half (56 per cent) of businesses admit to devoting 10 per cent or less of their planning time to workforce strategies, while 76 per cent don’t use the latest developments in workforce analytics to source and retain employees.
Roddy said businesses need to be more serious about workforce planning, talent analytics and invest in strengthening their employer brand if they are going to remain an attractive proposition in Australia and throughout the region.
“Business leaders can see the talent acquisition challenges on the horizon, so those wishing to stand out from local and international competition will start placing a greater focus on workforce planning and analytics sooner rather than later.”
For Randstad’s 10 talent strategy game-changers for 2014, click here.
