Organizations devote attention to drawing and keeping the best talent, but many fall flat when it comes to managing employees in such a way as to get the very best out of them, and thus get the very best out of the organization.
A survey compiled by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA), distributed at the AICPA Not-for-Profit Industry Conference, shows the ways by which bad management of human capital has hurt employers.
Titled “Talent Pipeline Draining Growth,” the survey offers several findings about management’s shortcomings. The question was “Have any of the following occurred at your company in the last 18 months as a result of inadequacies in human capital management?”
- Unable to achieve key financial targets: 43%;
- Reduction in company’s ability to innovate: 40%;
- Unable to achieve forecast growth: 39%;
- Unable to start a major project or strategic initiative: 37%;
- Reduction in company’s competitiveness: 27%;
- Unable to complete major project(s) or strategic initiative or completion delayed: 17%;
- Unable to expand into new markets: 13%; and,
- Unable to respond adequately or in time to risk factors: 8%.