For those of you in a position to hire senior-level talent for your company, it should be no surprise to you that we are living in a candidate-driven marketplace. Even with the issues of outsourcing, it is estimated that there will be 10 million more jobs than talent in the U.S. by 2011. The global number approaches 40 million. When we start to speak about specific skill sets, such as my niche of Enterprise and SOA Architects, the scarcity factor is off the charts.
So what does this mean? There is a war occurring for top talent and most companies are not prepared for the battle.
Let's be honest here for a second. My job is to help companies become competitively stronger through the acquisition of the best talent available. In order to find the best Enterprise Architects and SOA professionals, some companies will win and others will lose. There is no neutral position in this war. All companies will be helping me...either by providing me with hiring needs or with their talent.
Companies cannot afford to lose their employees. Replacing these valuable resources is an immeasurable cost.
A recent Harvard Business Review article entitled 'Make Your Company a Talent Factory' (subscription required) provided sensational insight into the importance of hiring and retaining A-Level candidates and employees. The key factor in maintaining these resources and a strong corporate culture is to constantly develop top talent and spread that knowledge globally throughout the organization.
"The challenge of filling key positions has, in a sense, crept up on businesses, many of which used to view development almost as an employee benefit."
"Leadership development has become a much more strategic process, and faulty processes and executive inattention now carry a tangible cost."
HBR is not an inexpensive magazine. But if you are a hiring manager and are tasked with building your business with the best talent in the marketplace, I highly recommend you pick up this month's edition and read about companies like Procter & Gamble and HSBC. See how these organizations can claim a free-flowing pipeline of curent and future leaders.
