Managers Must Drive Employee PerformanceThe Staff of the Corporate Executive Board
As the global economic recovery gains momentum, growth expectations are becoming difficult to avoid. A recent survey of CFOs at midsize companies finds that more than 90 percent expect growth in 2011 and 41 percent expect double-digit growth. With recruiters facing an enormous volume of résumés due to current labor market conditions, however, the right candidates to support that growth are increasingly difficult to find. In fact, according to Corporate Executive Board research, the percentage of new hires rated above average fell 17 percent in 2010, with 83 percent of recruiters reporting that not even half the applications they receive are from people actually qualified for the positions. With expectations for financial performance on the rise and recruitment efforts yielding mixed results, companies will need to lean more heavily on their existing employees to drive growth.
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