In the face of the continuing impact of the economc downturn, companies are promoting growth by making adjustments in measuring and managing talent, a new report indicates.

The report was issued by PreVisor, a provider of employment assessments and talent-measurement solutions that connect employment decisions to business results.  The second annual Global Assessment Trends report summarized findings from more than 230 companies headquartered throughout the world. Co-sponsored by ADP®, this year’s report aims to provide HR and business audiences with an up-to-date perspective on practices and trends in talent-measurement programs used for hiring, career-development and succession planning.

“The report findings confirm what we’ve witnessed in the past 12 months: that many of our clients, while recognized as leading HR practitioners, continue to feel pressure from the economic downturn," says Noel Sitzmann, PreVisor CEO. “However, the data also [indicate] that many organizations have made the necessary adjustments to move forward with effective talent measurement and management programs that will contribute to business growth going forward. These are exactly the kinds of strategic initiatives we work hard to support.”

Among the report's findings:

1) Performance management and career development emerged as top 2010 talent priorities.

2) In light of the impact of economic recovery, most companies (68%) indicated concern about employee retention.

3) With focus on quality of hire, 70% of respondents said they feel pressure to demonstrate return on investment (ROI) for use of assessments in the staffing process.

4) Social media as a hiring tool received mixed results. While almost 70% of organizations plan to use various social-media sites in their recruiting efforts, 50% remain unsure whether such efforts are effective. Only 24% of companies agree that social-media Web sites have a large impact on talent management.

5) Applicant reaction was considered critical, but wasn't always tracked. Eighty-four percent of companies agreed that applicant reaction to the hiring process is important; however, only 41% obtain feedback from candidates.

6) Formalized posthire talent programs could improve. Only half of respondents use assessment tools with their current work force. Fewer than 30% have established formal career development for employees.

“Reduced staff, budgets and an overload of applicants will remain a reality for most organizations in the coming year,” said Sarah Fallaw, Ph.D., co-author of the report. “As a result, the development of internal talent is an increasing focus for many companies. In 2009, a key finding showed respondents anticipating more time spent on employee development. The 2010 data [support] an even stronger shift from a focus on external recruiting and hiring to the current work force, including employee development and promotion.”

Co-author Andrew Solomonson, Ph.D., added: “Not surprisingly, we saw a decrease in respondents’ plans to try or deploy new tools or processes. This is likely due to lack of funding and reprioritization of new initiatives, although we would expect this trend to reverse as the economy recovers. Use of social-media sites as sources for candidate information was the exception, as companies plan to increase their use of these channels, despite uncertainty over their effectiveness.”

For more information on how organizations will measure their talent in 2010 and beyond, request a copy of the 2010 Global Assessment Trends Report at www.previsor.com/resources/gat/2010.