Held at the Allen & Overy venue (Calle Serrano 73, Madrid), the event welcomed the participation of Inserta Empleo as a partner and co-organizer. Pilar Llácer, the Head of Graduate Internships Assessment at EAE Business School presented the 3rd Talent Management Barometer prepared in collaboration with DCH. The session focused on an analysis of Human Resources Directors’ points of view and evaluation of large Spanish companies. After the presentation of the report’s results, a discussion panel was held entitled “The Battle for Talent”, which gave a more in-depth examination of trends in talent management and acquisition.
Juan Carlos Pérez, the President of DCH, shared the stage with Antonio Vázquez-Guillén and Alonso Cienfuegos, from Allen & Overy, an Associate Partner of the event. They then introduced the Talent Panel, which included Virginia Carcedo from FSC Inserta (Fundación ONCE), Marta Vadillo from Up Spain, Loles Sala, from the Human Age Institute and Manpower, and Raúl Bravo, the Director of EAE Business School. In the forum, Raúl gave an overview of EAE Business School’s work since it was founded in 1958 and its fundamental objective of “attracting budding talent and students being trained by professionals who are fully active in the business world”. Bravo went on to explain the variety of Master programs run by the School, the international student profile and the option to learn in Spanish or English. “At EAE, professionals in training take advantage of our advisors’ guidance to achieve a highly demanding level of performance”.
The 3rd Talent Management Barometer
The main new developments of the 2019 Barometer include the addition of a talent projection from an international perspective, thanks to the collaboration of five universities in Latin American countries (Mexico, Argentina, Peru, Colombia and Ecuador). Moreover, Pilar Llácer highlighted an 11% increase in the participation rate in Spain, as well as paying tribute to the team of EAE’s HR students, who have worked on this 3rd Talent Management Barometer.
The report analyses for different aspects: attraction, entry, development and exit. At the attraction stage, there has been a 4.48% increase in the incorporation of senior talent in the over 45 age group. It also reveals that companies invest very little in enabling these professionals to recycle their digital competences: 78% of companies do nothing to adapt their senior talent to the digital transformation. “We have a responsibility to train and adapt our talent to the culture of digital transformation”. With respect to attracting junior talent, Pilar Llácer emphasizes the importance for companies of having social media profiles, including Instagram. In this first stage, there has also been a slight increase in designing diversity management policies. However, there is still a lot of work to be done in this respect. The last aspect analysed is the challenges involved in gender diversity (40%), disability and inclusion, as well as generational and cultural variables.
With respect to data on Entry and on-boarding programs, the figures reveal a rise in the proportion of companies that use such programs before the employee’s incorporation as a motivational tool, “when we want them to join the company for a prolonged period of time”. There is still a challenge in terms of generating employee commitment and loyalty in many companies. The report also covers aspects such as the professional career prospects, which remain stable, and variable remuneration for senior executives. Flexibility and objective-based work were also covered in this section. There is still a lot of work to be done in companies in terms of the employee experience. “Companies always have to strive to place employees at the centre of their strategy in order to enhance motivation”.
Development was the next factor to be analysed. Most companies have talent identification programs in place, but many organizations do not: 34% still so not have a welcome session or specific programs to identify talent, compared to 65.38% that do. In addition, there has been a 3% rise in the search for junior talent. “We identify talents as soon as they arrive, and this is related to the high turnover of junior profiles that we have in companies”. With respect to training and learning, Pilar described the reduction in training in institutions as ‘concerning’: there has been a 26.02% drop in training for employees, with more in-person training being used and a rise in performance management.
The most commonly used leadership style in organizations is the collaborative approach (39%), although this is followed in second place by 22% of companies still apply a hierarchical style. In fifth place, Pilar mentioned transparent leadership at 11%, sharing a new challenge with the participants: “We are still at the stage of focusing on the leaders who transmit team management culture and policies”.
The Exit stage was the fourth aspect analysed, about which the most surprising figures were revealed for the Digital Talent Advisor, particularly in relation to the 12% rise in exit interviews. “We need to generate a sense of belonging, commitment and loyalty among these professionals, so they become fans of our companies and we can have a good relationship with our former employees”. This figure highlights the current status of the situation in the HR Departments of companies.
Discussion panel: The Battle for talent
HR experts including José Luis Risco, the HR Director at EY, Verónia Thavonat, from KPMG, Juan Luis Díez, from Deloitte, and Gemma Moral, from PwC, took part in a discussion panel chaired by Irene Rindone, the Director of Sales at Indeed. The recruitment experts at the Big Four (Deloitte, EY, PwC and KPMG) analysed aspects such as innovation, learning and professionals’ capacity to adapt to new realities. The challenges highlighted included understand the skills needed by the Human Resources Departments and changing paradigms in terms of shifting the focus from careers to professional experience as the new generations are looking for everyday experiences and development. In addition, there are new, more flexible work models that companies have to adapt to.