The world is in an all out talent war... Or is it? Heavy Industry, Manufacturing, Semiconductor and IT seem to have a growing number of available talent as the industry moves toward more automation. Yet the talent war seems to be heating up. Companies are expecting more, faster from even the best talent in the industry. And most companies can attest that even their best talent don't seem to stay long. But is the problem with the employees hopping from job to job or with an employers salivating over talent with relevant experience? Shouldn't we be having a war over talent with the right competency to achieve in our companies instead of the same experience?
Behind the media-blitz and recruiter-talk a different story is playing out. Many companies are sticking to out-dated stereotypes, inflexible job descriptions and standards of sameness which are in-part driving the perception of a talent crunch. More and more companies are insisting on using talent with the same experience as those successful people in their companies and thus this may be one reason turnover in companies is increasing at such a fast pace. With a limited pool of talent, something has to give. The situation is getting so bad that recruiters handling permanent or long-term roles are overjoyed if candidate stayed with their last company for two years.
In the past companies developed their core workforce from people with potential to learn from other industries and fresh graduates. They hired people with core competencies to succeed in the company. Now it seems only mega corporations are offering these opportunities to a select few who pass strict testing and screening barriers.
Imagine this not so uncommon situation: You are running a company and you have two job applicants for a role. One has excellent drive and interest in your company, industry and products but has never sold them before. The other has relevant experience and a solid track record but is comfortable in his present role and will only move for a considerable uplift. Who would you chose?
In today's talent-driven market, you would likely chose the second candidate under the impression that he or she is worth the extra cost. Fast forward the guy you paid so much for has lost his drive to succeed in your company. In the end, he didn't fit the culture of your company. And that other guy? He would have been so grateful for the chance he would have pushed himself to achieve in every respect. Could it have been different? Yes. Could you have known? Maybe.
This example highlights the risks and challenges of hiring and core business decisions. Companies should do their best to recruit top talent and should invest heavily to keep and develop all the talent in their organization. And companies should also look closely and question what the true core competencies are for the roles in their company. Otherwise, they are just driving a job-hopping workforce.
