The Talent Drought is For Real
Posted: 05/11/2009 5:42:00 PM EDT | 2
Having spent the last 14 years in the executive search and recruitment industry, it has become quite clear that finding the “right talent” for critical positions takes more time. Low unemployment, globalization and a shifting demographic relative to an aging workforce has created a shortage of qualified workers.
Many professionals are more resistant to relocation because of the recent real estate woes. They are also more hesitant to leave a job with a stable company despite the allure of more responsibility, higher pay or a nicer boss.
Search professionals, human resource executives and internal recruitment staff are feeling the pinch of a tight labor force. The costs associated with sourcing, advertising, researcher pay and direct marketing continue to rise, as well as the time needed for recruitment of the right talent for a specific organization.
Recruitment for the Best Job Candidates
My assumption is that you, as a human resources leader for your organization, have also felt the pain in securing the talent you need. Here are a few suggestions to reduce your heartburn.
- Don’t wait to start the recruitment process for a position you need filled in January. Start now. The holidays will be here before you know it. Hiring is more difficult once Thanksgiving comes.
- Don’t discriminate against more seasoned candidates. Research proves that older workers are more loyal, stay with companies longer, are less likely to call in sick, more willing to work overtime and are more reliable and able to deal with complex customers and service issues.
- Be prepared to look outside your industry. There are hundreds of talented and well-qualified executives out there who may be flying under your radar. You may be overlooking these candidates because their experience comes from a different field or industry. Chances are they have the core skills you need. Industry specifics can be learned.
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You have identified some interesting points. In particular, I have encountered industry preference quite a bit in the last few months. After 24 years in HR in the Building Materials Mfg. sector in the NY/NJ area, not many of my competitors are here. Thus, I have sought to change industries and there is a real issue trying to secure interviews etc albeit I often meet or exceed the specs and the job remains open for quite a while. In short, if HR skills are not highly transferrable, then what skills are?
Very good article!
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