On the workforce side, issues include:
Investment in talent. “Companies aren’t investing
in talent in the same way they used to,” Flynn says.
According to the Deloitte survey, 25 percent of CPOs
spend less than 1 percent of their budget on training.
Career paths. Relationships between employees and
their employers have changed. Gone are the days when
employees spent an entire career with one company.
The progression ladder also has changed, says Peter
Cappelli, George W. Taylor professor of management at
The Wharton School at the University of Pennsylvania
in Philadelphia and director of Wharton’s Center for
Human Resources. Employees are more likely to move
laterally within a company — or to a lateral position in
another organization, he says. Additionally, due to layoffs,
companies are more likely to hire from outside rather than
promoting from within, he says.
Competition. Many organizations are faced with talent
shortages in such areas as analytics, thanks to competition
and skills gaps. Flynn calls the situation a “war for talent.”
According to the Deloitte survey, analytics is expected to
be the most “impactful technology” in the coming years,
yet two-thirds of CPOs note a “large to moderate” skills
gap across analytical abilities.
According to the Deloitte survey,
25 percent of CPOs spend less
than 1 percent of their budget