PwC Malta and FHRD release the 10th edition of the annual HR Pulse Survey
18/10/24
The 2024 HR Pulse Survey, a collaboration between PwC Malta and the Foundation for Human Resources Development (FHRD), has unveiled the current HR challenges and aspirations of local organisations. With over 130 participants from the local HR community, the survey focused on people-related concerns, the present state of learning and development (L&D), and learning technology.
Participants identified their most pressing human resources concerns, including difficulty in attracting the right talent (85%), skills availability to drive growth (79%), and employee retention (70%). A significant 85% of respondents agreed that L&D contributes to achieving strategic goals, highlighting its role in equipping employees with skills to drive performance and innovation. However, most participants reported that employees spend only 1 to 2 hours per month on L&D, which is low considering its importance.
49% of participants agreed that their L&D approach is technology-enabled, with 33% exploring or implementing AI for L&D initiatives. Expected benefits include faster content creation (77%), easier information discovery (61%), improved efficiency and cost reduction (59%), enhanced knowledge dissemination (50%), and personalised, adaptive learning (48%). Coaching and mentoring emerged as the most popular L&D trend (69%), followed by skills-based talent management (49%). On-the-job practice (92%) and peer-to-peer learning (83%) were rated as the most effective training methods.
The survey also brought out some key challenges in workforce development. These include time (45%), resource constraints (43%), and budget constraints (43%). Modern technology and methods like on-the-job practice and peer-to-peer learning have emerged as the right tools to overcome these obstacles. Furthermore, the survey identified that investment in L&D leads to enhanced employee engagement (77%), increased productivity and performance (68%), and improved employee skills (66%).
“The survey underscores the importance of a strategic commitment to L&D and the use of technology to drive professional development in Malta. Business and HR leaders are encouraged to leverage these insights to build and develop a workforce that is excited and eager to turn their organisation’s vision into reality,” said Claudine Attard, Management Consulting Director at PwC Malta.
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