Board Survey

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The human success factor – future of talent management

Companies face major challenges in human resource management; however less than half of the boards have a talent strategy.

swissVR Monitor – Survey among Swiss board members

In our survey of 420 board members in Switzerland around two-thirds (69%) of respondents consider their company to be well equipped for the future challenges in talent management; but they also state that there is a need for action. A majority of the board members (59%) foresee difficulties in recruiting highly qualified employees in the future.

Other topics in the survey include the composition of the executive management team, the ability of its members to work together, and the need for employees to assume greater personal responsibility. Board members also widely agree that workforces needs to more adaptable, agile and resilient.

swissVR Monitor I/2021 – Focus: Future of talent management

Talent management of the future – key findings

Success factors for the future of talent management

  • The majority of board members consider their company to be well equipped for the future challenges of talent management: most say that they regularly discuss personnel developments (88%), have the necessary specialist knowledge (76%), identify talent risks (66%) and dedicate sufficient time to the topic (59%).
  • Around two-fifths of those surveyed (42%) defined ambitions and goals as part of their talent management strategy.

Talent management action areas

  • Board members stated the need in future to identify internal talent (90%), to develop the skills of their staff a(90%) and also to recruit highly qualified employees (89%).
  • More than half the respondents believe that their company will encounter difficulties in the future in recruiting highly qualified employees.

Personnel and skills development at the centre of talent management

  • Most board members (87%) want to encourage employees to assume greater personal responsibility and to think and act entrepreneurially.
  • 83% consider it important to improve their employees' technological and digital skills.
  • 82% also agree about the need to develop the adaptability, agility and resilience of the workforce.

Key skills for managers

  • Two-thirds of respondents consider communication skills and persuasiveness to be among the top five most important skills for managers in the future.
  • Other important management skills are strategic thinking, agility and flexibility, a willingness to take responsibility and the ability to work in a team.

The composition of the management team and the ability of its individual members to work as a team are particularly important

  • Most board members (87%) agree that in future they will pay even more attention to the personalities in the management team and ensuring that its individual members work well as a team.
  • There is also relatively widespread agreement that in future the board of directors will increasingly appoint internal talent to management positions (74%) and will attach greater value to diversity at executive management level (65%).

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About the survey

The swissVR Monitor is a survey conducted jointly by swissVR, Deloitte and the Lucerne University of Applied Sciences and Arts. Every six months, this survey gauges the attitudes of members of Swiss company boards of directors towards the outlook for the country’s economy and their sector. It also gauges their attitudes towards current matters of relevance to boards. Each issue of swissVR Monitor also explores a focus topic in greater detail. The surveyed board members represent firms from SMEs to listed companies across a range of sectors. With 420 members surveyed in its latest edition, it is an accurate reflection of the attitudes of boards in Swiss companies.

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