Monday, April 03, 2006

The Find & Replace Feature

As I have mentioned here before, I try to stay tuned into the articles, discussions, and blogs that are all a part of the Electronic Recruiting Exchange. Because the postings are often thought-provoking, I'm a frequent visitor and the most recent piece by Lou Adler, CEO of The Adler Group called, Why We Lost The War For Talent got my attention.

In the article, he shares some figures from a survey he conducted along with some stats from a Gallup survey. The clear message from both surveys was that while companies recognize that finding good people was a major challenge (59% in the Gallup poll said that it was their "most pressing problem") very few of the companies that Lou polled (of which there were over 350 both big and small) said they felt good about how they were coping with the newest skirmishes in the war for talent.

This certainly squares with our own data. This was one of the many issues we recently addressed in our annual Executive Job Market Intelligence Report for 2006.

What somehow seems pretty weird at this "late date" is that while organizations say they are really concerned about dealing with a human capital marketplace that, absent any unforeseen events, (a sad commentary on the times in which we live) will continue to only get tighter, the number that are really trying to make it a top priority seems incredibly low, especially given the competitive risks at stake. How concerned? Over 80% of the recruiters we surveyed, which included both 3rd party and corporate, were clear in saying that they felt the war for talent was heating up and 79% agreed that there was a shortage of talent at the executive level.

Our survey of executive leadership came back with data that showed some 72% of the senior level executive respondents were planning to get out of Dodge within the next 6 months, and when it comes to filling the holes they will leave behind, we were seeing numbers like 75% of employed executives had turned down offers and so had 40% of the unemployed ones. There is a message in numbers like that and it isn't good for organizations that somehow haven't gotten around to reading the tea leaves surrounding retention of talent. This is one battle they can ill afford to lose.

Should be interesting to hear what others attending the Human Captital Institute's conference in Chicago next week have to say. We've been asked to head up a panel on this issue, which is titled: The Executive Crisis: Grooming the Next Generation of Leaders, and are looking forward to expressing at least one point of view and articulating some specific calls to action. The question before the house, of course, is not will be people listen, but rather will they act.

No comments: