Succession Planning Concerns Lead to Talent Management Technology Search

October 30, 2007 (PLANSPONSOR.com) - Efforts to implement and improve succession planning programs are prompting many companies to reconsider their talent management systems, Watson Wyatt Worldwide found in a study.

The 2007 HR Technology Trends survey of 182 large companies indicates a third plan to adopt new technology solutions for succession planning in the next two years, according to a Watson Wyatt press release. The same percentage (33%) plan to change the way recruiting is administered.

HR executives said their organizations were far less satisfied with current talent management delivery than with health and welfare, defined benefit, and call center administration.

Additionally, the study found 29% of firms plan to change learning management systems and 25% plan to change workforce planning solutions.

Employers are increasingly focused on making these decisions more objective and data-based, requiring aggregation of a vast array of data on candidates and on the organizations’ strategic plans, Watson Wyatt said.

“Talent management programs overall are increasingly complex,” said Richard Hubbard, director of Watson Wyatt’s U.S. technology and administration solutions practice, in the news release. “But many companies are missing opportunities to make them less complicated through technology solutions. While implementing a succession planning solution is driving many companies, putting in place an integrated talent management system can help streamline administration of a broad array of programs and can really pay off for employers.”

More information on the Technology Trends study can be found at www.watsonwyatt.com/techtrends . A white paper, “Planning for the Future: Next-Generation Practices in Succession Planning,” can be found at http://www.watsonwyatt.com/research/whitepapers/successionplanning .

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