Less than four in 10 firms say they are ‘very confident’ of their ability to redeploy talent within the business, according to talent management solutions provider Taleo.

The study also shows that 48% say that the one thing that would help them effect change within the company is ‘better visibility of employee skills’.

While 79% of HR teams are confident that the UK economy will improve over the next year, 64% see the economy as the biggest challenge facing the UK right now.