European companies will face five major human resources challenges in the future, with managing talent being the most critical, according to a recent survey of more than 1,350 executives from 27 countries in Europe.

The survey, conducted jointly by The Boston Consulting Group (BCG) and the European Association for Personnel Management (EAPM) examined the future importance of 17 HR topics. Managing talent was one of the top two HR issues in 17 of the 19 countries with more than 20 responses.

The report's authors went on to say: "Talent shortages loom, both in Europe and in new markets abroad, and companies must take steps now if they hope to address these shortages. To fully exploit global labor pools of highly skilled professionals, companies should source their talent from throughout the world. Companies should also ensure that they target their offerings to meet the needs and goals unique to different ethnic groups and nationalities, women, and older workers"