Our recently launched study titled ‘Talent Outlook 2013’ indicates a paradigm shift in HR trends this year. The survey revealed that 2013 will be a year of skill and talent reconciliation, even as new skill sets are brought to focus and HR is challenged to implement strategic planning within the organization.
The Silicon Valley will continue to be the Innovation hub, with 80% of respondents to the Zinnov survey indicating that their organizations’ headcount will increase the highest in this region. India ranked third among preferred innovation destination globally, with organizations revealing that 15% of innovation is expected out of the country, followed by EMEA at 10%. In 2013, China and India are expected to witness marginal growth due to factors like cost and talent availability. The headcount in India is expected to increase by 13 % in 2013. However, the study revealed that China would no longer be the preferred key innovation destination and hence, would not be on the priority list of most companies.
The demand for data scientists and user experience designers will remain high, while demand for mobile application developers and cloud computing experts is expected to range from moderate to high. Significantly, all these skills were non-existent till a decade ago. In addition, this year, organizations are expected to increase their focus on soft skill development across levels and functions.
Organizations believe that 25% of their current talent will become redundant in the next 3-5 years, while specialized skill sets in User Experience and Mobility will witness rise in demand. In 2013, organizations will seek to hire talent with skills in the areas of Engineering (50% of respondents indicated that it would be among the top 3 skills of the future), followed by Analytics skills (40%) such as Big Data, Predictive Modelling, HR Analytics, and Mobility (32%).
Niche hiring and skill set assessment are the key talent related challenges that organizations continue to face. 50% of the respondents suggested that these would be the key focus areas for the year 2013. Dedicated statistical teams within HR departments can reduce challenges around skill set assessment, large volume data analysis and workforce planning. However, most organizations lack such resources and only 20% plan to focus on it in 2013.
The following are some of the key findings of the study:
- India is the third preferred destination for innovation after Silicon valley and other US cities
- Organizations believe that 25% of their current talent will become redundant in the next 3-5 years
- The demand for specialized skill sets in User Experience and Mobility is expected to rise
- Countries such as India and China will witness growth primarily due to cost and access to talent.