ince the last newsletter was published I have heard from several of my readers who have relayed anecdotal evidence of the War for Talent. It seems that the coming crisis may not have hit full force yet, but is affecting businesses today.
A recruiter that I know says that he has all the business he can handle. There is no shortage of jobs that need to be filled. He is having a difficult time finding qualified candidates that are available and willing to talk about a move. He has had to change the ways that he contacts potential job candidates to “sell” them on new opportunities. However, he reports that he still has a more difficult time finding candidates with the knowledge and experience to fill the executive positions he has open.
Don’t think that the shortage is just affecting high level, high wage positions. I spoke with a police chief recently that is having a hard time finding qualified candidates for entry level officer positions. There is only a slight shortage in people that have basic training in law enforcement, however many of those fail in the screening process.
Another large firm that I have worked with for many years has had to shift strategies for hiring salespeople. The supply of outside sales people with training and experience has not kept up with demand. This particular company decided to go directly to the source—recruiting on college campuses—and are training the recruits the way they want them. Time will tell if this strategy works for them, but they have found the only way to fill the positions is to start early.
A colleague of mine working for a major utility on the west coast talked about the challenge of an increasing retirement rate of senior management and the lack of people to take their place. Drive down any highway and look at the billboards advertising for truck drivers.
The point is that turnover is becoming more costly. Finding and hiring the right people is more critical than ever. The ability to survive and thrive in today’s environment is tied directly to your people.
So what is your strategy for filling the jobs that your growth will create? How do you reduce turnover of your top performers? Have you thought about how you can upgrade your workforce?
Remember that it is not what you pay a person that counts—it is what they cost you. Take the time to answer the questions now so you will be prepared for hiring situations in the future.
Read the Scholz Report, a new feature appearing monthly in Pros Communications Magazine. Pros Communications is available on newsstands near you, or by subscription. To subscribe go to www.proscommunications.com and click on subscriptions.
