10 Global HR Trends for 2011

1. The importance of globalization and integrating markets: Companies will become larger and more global in the next 10 years, handling operations in more countries than they do today. ---We're living in an increasingly border-less world.
2. Talent management: Finding and retaining quality talent continues to be essential to business sustainability. Finding and retaining quality talent continues to be essential to business sustainability, though its importance in relation to other challenges differs by location. (AUTHOR UPDATE: Respondents from Brazil and Sweden rated this issue in the BCG/WFPMA study as being of lesser importance than other top-10 HR challenges relative to respondents from 15 other countries. And when polled further to rate if there were no/some/high/very high talent shortage or skills gaps across 12 different specific industries/sectors, the Brazilian and Swedish respondents rated it uniformly as "No" across all the industries.) ---There are more contingent workers, and the rationale behind work force investment is changing and moving in multiple directions.  ---Most industries and countries are to experience a widening talent gap, notably for highly skilled positions and for next generation of mid and senior leaders.
3. Working virtually across functions and geographies will intensify, with implications for intercultural communication, business ethics and organizational effectiveness. ---Localizing management of overseas operations is key, but a global outlook is just as important as local knowledge.  ---Businesses need to find new ways to connect people to each other and to information, both internally and externally. ---The expectation of having an "always-available" employee varies around the world.
4. Global employee engagement is tentative; companies that have implemented multiple layoffs have eroded a sense of security in the global work force. ---There is a disconnect between what companies currently have to offer employees and what employees really value.  ---Retaining valued talent is more important, but the drivers to retain that talent are different depending on the type of market (growth opportunity is paramount in growth markets; new or challenging responsibilities is paramount in mature markets). ---The gap in creative leadership, executing for speed, and managing ‘collective intelligence’ must be addressed. ---Employee engagement has suffered; companies are now trying to restore pride and trust.
5. The economic crisis and fewer existing business opportunities create a high demand on the global HR function to demonstrate greater adaptability. ---HR will be an important link between corporate headquarters and overseas operations.  ---HR is conducting too many initiatives, with mediocre outcomes. Companies need to reboot their HR function and boost resources devoted to HR.
6. Economic uncertainties fundamentally change motivators that attract and retain employees. ---There is a disconnect between what companies have to offer employees and what employees really value.
7. Human capital protectionism may continue to increase in many countries in non-tariff, nationalistic forms.
8. Global mobility of high-value workers continues as multinational companies restrict new hires and relocate talented employees from within their existing work force.
9. Companies that originate in emerging economies will continue to succeed in the global marketplace.
10. Increased demand for HR metrics may bring about a widely accepted set of analytic measures and methods (global standards) to describe, predict and evaluate the quality and impact of HR practices and the productivity of the work force. However, globalization is also driving impetus toward the use of more metrics with greater cultural sensitivity.