Recently, I’ve been thinking a lot about the alleged war for talent. I spoke about my view on this at #OhioSHRM, when I discussed a concept that I was honoured to have quoted by China Gorman in her closing keynote. The key point at the start of my presentation was that there is no war for talent. We can’t have the high levels of unemployed talent across the globe and claim that there is any meaningful war being waged.
What we do have however, as a result of changing skills requirements by hiring companies is a real war for other people’s talent. You want other people’s talent, and they want yours. The booming sectors are in Technology, Information, Data, Finance, Health and Medical and the service industries that support these sectors. These are termed the knowledge sectors.
At the same time, sectors like Manufacturing, and those requiring what is termed low-skilled labor or manual labor are in rapid decline. Some skills have become redundant in the new age, and the real challenge for governments across the globe is reskilling this large part of the unemployed, but that is for another blog.
In many quarters, what recovery we have seen has been described as the jobless recovery. Theres been an increase in reported open vacancies, but at the same time unemployment has been rising. The skills gap has been apparent, and those people securing new employment are usually moving from existing employment. That means that whilst you want other people’s talent, other people want yours.
Hiring is getting harder and harder. People need to be 100% sure to move, and Hiring Managers are getting more and more risk averse in their hiring decisions. Given the difficulty and cost in hiring, it makes me wonder why more attention isn’t paid to retention. We know of talent acquisition teams, and talent acquisition strategies. How many organisations operate an active retention team with a retention strategy.
What do you think?