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Survey: Hiring managers lukewarm on their talent development

DOWNERS GROVE - While expectations of new candidates remain high, hiring managers are lukewarm about how effective their organizations are at talent management and competency development, according to sixth annual Job Preparedness Indicator from The Career Advisory Board, established by DeVry University.

This year's study of 500 U.S.-based, senior-level hiring managers explored how organizations are developing the necessary skills and competencies in their workforce, as well as their level of commitment to strategic talent development and management.

The study found only 13 percent of respondents believe their talent development initiatives are very well-aligned with their overall business strategy.

In order to ensure employees are adequately trained to do their jobs, 80 percent of respondents rely on on-the-job training, one-third use formal mentorships and nearly two-thirds leverage one-off online or in-person learning programs. However, only 11 percent reported their efforts help in providing employees with the skills they need to be successful.

Surprisingly, respondents shared they feel their organizations are weak when it comes to tracking the return on investment of talent development initiatives, with only three out of 10 reporting they do it a fair amount or a great deal.

At the same time, however, hiring manager expectations for job candidates remain high across all levels of employment. Less than half of the survey respondents (44 percent) agreed the majority of candidates have the right skills to fill open positions. They reportedly interview, on average, six candidates for every job; with one-third interviewing more than six.

"While this year's survey showed some inconsistencies around professional development and organizational strategies, hiring managers still look to formal educational attainment in both candidates and employees," said Alexandra Levit, chair of the Career Advisory Board and business/workplace consultant. "Both job candidate and current employees will need to seek out development opportunities, in the short term, in order to get ahead in their career.

"This also identifies an opportunity for employers to lean into higher education partners to help develop and retain their most valuable employees; not just to seek out new candidates," added Levit. "Many colleges and universities have programs and training that can help businesses close the skills gaps with their workforce."

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