Ask the average person if they would like to spend a day in the life of their boss and they’d likely jump at the chance. If their boss is the CEO, they might be more hesitant, realizing they’d need to deal with a host of challenges that can quickly turn power lunches and perks into major headaches for the person at an organization’s helm.

Issues like steady top-line growth, speed, innovation and customer loyalty shared the hot seat with a growing number of workforce challenges in The Conference Board’s most recent survey of CEOs. What is most compelling, however, is that nearly 8 of the top 10 U.S. CEO challenges pertained to attracting, retaining, and managing talent.

Three-quarters of corporate officers said their companies had insufficient talent or were “chronically talent-short” across the board.
McKinsey Quarterly

It’s not surprising then that according to The Conference Board, 79% of successful CEOs rate availability of talent as a chief concern. More and more business leaders today recognize that human capital not only represents one of their largest line items—approximately 35-40 percent according to Saratoga Institute—but it’s an asset that is under managed and yet holds the greatest potential for improved fiscal performance. Regardless of marketplace climates—recessions, rebound economies or fiscal booms—human capital issues continue to be at the core of many businesses.

What does this mean for organizations?
Effective integration of an organization’s staffing and recruiting strategies are decisive factors in determining who among today’s business leaders will succeed in improving their bottom line and realizing sustained future growth. Organizations that are void of a workforce acquisition strategy that enables them to respond to, leverage and optimize the complexities of the workforce, will face a future of struggle and negligible success addressing skill shortages and talent competition.

Forces driving the war for talent
Significant changes are occurring in today’s workforce—in quantity, quality and diversity—all pointing to a severe talent shortage in the near future.

According to the Bureau of Labor Statistics, 24 million people are expected to exit the labor pool by 2010. By 2008, it is expected that 10 million more jobs will be available than workers to fill them. This picture gets worse when you consider the decline of knowledge workers. According to the Department of Labor, 75% of future jobs will be knowledge-based, yet in the next decade, 70% of the workforce will not be college graduates.

Page 2 >

Discover the power of Total Workforce Acquisition for yourself,  contact us today.