Towers Watson’s 17th consecutive Talent Management and Rewards Study reveals the demand for the right talent is as strong as ever — and the stakes for attracting, keeping and engaging that talent are high. Not in recent history have we seen such rapid movement in economies, and workforce demand and availability (see related research, Global Talent 2021). Even as organizations continue to rein in operational costs, many push expectations for employee and financial performance ever higher. As a result, the workforce is often providing greater efforts without the promise of greater rewards.
The 2012 – 2013 Global Talent Management and Rewards Study surveyed 1,605 employers from regions including Asia Pacific, EMEA, North America and Latin America. Highlights from the study include:
- Employers that have segmented the workforce and deliver customized employee value propositions (EVPs) for critical employee segments are more than four times as likely to report their employees are highly engaged than organizations with less integrated EVPs.
- In spite of this, only 18% of the survey respondents have differentiated their EVP from other organizations with which they compete for talent.
- Financially high-performing organizations exhibit dramatically stronger consistency in global talent management and reward program design — in many cases, with 20% to 30% higher prevalence in design consistency than other survey participants.
And we know from our 2012 Global Workforce Study that employees are stressed at work:
- More than half of all employers report employees are working more hours than normal — and have been for the past three years.
- Nearly as many (43%) say they expect to maintain that pace for the next three years as well.
The pace of change and the challenges may seem insurmountable — but some organizations are managing the employer/employee balance effectively. Download the 2012 – 2013 Global Talent Management and Rewards Study Report, which highlights insights from organizations that are getting it right — and realizing significant returns from doing so.