BNET Survey Reveals Talent Developement And Retention As The Most Critical Of Business Issues For FY08-09
Australian managers are feeling the pinch of human resource issues above economic and political issues according to newly released research by BNET Australia
SYDNEY, Australia - July, 2008 - Despite consumer concerns around inflation and rising petrol prices, it is the battle for talent, skill development and staff retention that is of the greatest challenge this new financial year according to a recent reader poll by BNET Australia (www.bnet.com). As the leading resource for over 4.5 million Australian managers, BNET Australia developed the survey to benchmark the needs of the nation's business community at the cusp of the new fiscal year.
The online survey of 250 Australian managers included industries ranging from business services, consulting, governmen,, retail and telecommunications. It was designed to provide a reflection of the top-of-mind concerns of Australia's management community as many organisations take the opportunity to replan and reprioritise for growth and development at this important time of the business year.
"The end of the financial year is a key period for business, regardless of size, to plan toward improved professional and fiscal performance as budgets are set and reported and performance reviewed" said Brian Haverty, Editorial Director for BNET Australia. "The comments of BNET Australia readers have really reflected the notion that learning is a career-long process. Our research demonstrates that organisations need to focus on skills, learning and development opportunities for management and employees to alleviate tensions and concerns which could ultimately result in staff departure, both in the short and long term".
The long-discussed battle for talent is still dominating the minds and business plans of Australian managers with professional development, skill shortage and staff retention issues each cited by 14 per cent of respondents as their most key concerns for FY08-09. Despite this though, managers are feeling confident about client retention and customer growth with just 11 per cent seeing the issue as a concern moving forward. The research was conducted across multiple sized companies ranging from businesses with under 100 employees and up to 500 and above.
While consumers, unions and media have debated the virtues and vices of the Rudd government, Australian managers are taking a 'business as usual' approach with the new leadership cited by only 3 per cent of respondents as being of a concern to their prospective business performance. Petrol prices (7 per cent) and inflation (6 per cent) are considered, but again contrast as less important factors affecting business performance in comparison to the performance and capabilities of customer and industry facing staff.
Launched in May 2008, BNET Australia offers the latest information, features, advice, case studies and peer networking facilities to support Australian business managers as a one-stop resource for their professional guidance and development needs.
To visit BNET Australia, go to www.bnet.com.
Top Management Concerns (ranking by percentage):
- Professional Development 14%
- Skills Shortage 14%
- Staff Retention 14%
- Client/customer retention or acquisition 10%
- Direction from senior management 9%
- Interest rates 7%
- Petrol prices 7%
- Reduced customer spending 6%
- Strength of the Australian dollar 6%
- Inflation 6%
- Fiscal responsibilities 4%
- New Australian Government 3%
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