A shortage of talented executives worldwide means demand for gifted New Zealand professionals both locally and abroad will continue to grow, a report finds.
The report, Creating People Advantage, by the Boston Consulting Group and the World Federation of Personnel Management Associations, surveyed 4741 executives in 83 countries,including nearly 200 human resource executives in New Zealand.
Overall, managing talent was seen as the most critical human resource issue worldwide, as it was in New Zealand. It ranked tops among nine of the 17 countries analysed in-depth, and was in the top three of 14 - a reflection of increasing globalisation and competition for resources.
Although few companies have yet to move their businesses to new locations to access people, survey respondents expected this to be the most rapidly growing human resources trend.
"It may soon be harder to find and keep talented employees than to raise money in an IPO," said Rainer Strack, one of the report's authors.
"In the West, workforces are greying, while in developing markets, companies have an unquenchable thirst for skilled employees. Creating a people advantage will increasingly translate into competitive advantage."
New Zealand respondents thought the number of companies sourcing talented employees locally would decline from 82 per cent to just 63 per cent.
In contrast, the sourcing of employees globally would increase from 39 per cent to 66 per cent.
Human resource executives in New Zealand also thought improving leadership development to be critical.
Most thought executive coaching programmes would increase to address this issue. Employing an external coach, which is only being done by 46 per cent of New Zealand companies today, would increase to 66 per cent, survey respondents predicted.
