It is getting harder to attract and retain talent. We are at the precipice of Job Boom 2.0 according to the May cover of Business 2.0 while John Sumser continues the drum beat of facts and figures at his Interbiznet site. Bottom line: there is not enough technical talent in this part of the world to go around. The company who gets the talent and keeps the talent wins...period.
The Scramble Is On!
Companies ranging from Fortune 500 to start ups are looking for the secret recruiting sauce and the right person to lead the effort. There have never been so many searches on the market for Chief Talent Officers spurned by CEOs and CFOs scratching their heads wondering how we get the Talent Force we need to compete.
Here's the first hint. Tie your talent need to your company's value proposition in ways that are understandable and measurable. Consider the talent imperative a strategic asset and invest just as you would any other asset vital to the success of your organization.
For instance, a company positions their value proposition in the market as "unbelievable service". They are fanatical about the service they provide and are much better than their competitors. As a result of their value proposition they acquire customers rapidly and are able to extract premium dollars for their value. (Isn't it amazing that customers will pay extra for great service!). The company's success is tied directly to their ability to hire and retain talent capable of delivering over the top service. The company understands and invests in the talent by providing a culture of success where each understands their value to the company direction, growth and success. And it's not just about salary...people will work at a company where they are highly valued.
A simple, direct and real example. But what about the company known for rapid growth, outsourcing and has a history of layoffs? Talent is a cost to be managed in order to beat the street. Everyone knows the culture, hates it but has to work there for lack of options. This is the company in trouble - times have changed - talent has options...lots of options. This company has the tough, if not impossible job. Their value prop of the past may have been better, faster, cheaper and thus all the outsourcing - do whatever it takes to cut cost. No more - won't work.
Companies will have to take their value proposition and add the imperative that it takes great QTalent to create, deliver and maintain. The requirement will be investment in QTalent and positioned correctly, customers will be willing to pay premium dollars.
It is a new world!
