Is Your Organization Ready for The Great Talent Poach?
March 16, 2011 1 Comment
We are in the midst of a Talent Acquisition war. “Battle Tech” is turning the world of recruiting upside down. With the social media, mobile app and cloud working boom in recent years, the demand for highly skilled tech talent has risen dramatically. And yes, boom (in part) = startups.
So what’s the appeal of startups for seasoned tech talent? Why are so many willing to take a 20-40% pay cut and be wooed away from their “secure” jobs? Well they could be hoping for a bigger pay day in the future by trading salary with the option of stock or maybe the thought of starting fresh with a VP title appeals to them. Whatever the retention issue is, how can it be solved? When you lose your best talent you’re also losing revenue and time for the re-hiring process. Many organizations are spending mass dollars in just trying to keep their current employees let alone compete to acquire new ones. How Much Does the Recruiting Process Really Cost?
“You can ask about Strategic Sourcing and Recruitment Certificate in Kuwait”
Who is in control? Well, when the demand is greater than the supply, the supply is. How is your organization handling the tech shortage? What about contract labor? Most organizations don’t have an enterprise level view into how many contractors are working with them or their customers. We’d like your thoughts on what influences contract talent usage at your organization.
Don’t believe me? In a recent article in Bloomberg, Business Week they state: “Median voluntary turnover at 616 U.S. technology companies rose 27 percent from the first quarter of 2010 to the fourth quarter, with no sign of slowing, reports San Jose compensation consultant Radford. In the fourth quarter of 2010, Radford found 16.3 percent of 520 technology companies surveyed planned to hire aggressively, vs. 9.1 percent at the start of the year.” Wow.
What’s a major player in this? Employee referrals! If you have the likes of Google, Facebook and Amazon.com after you with startups sweetening the pot at every turn who are you going to really listen to? You’re going to get the inside scoop from your pal who currently works at these businesses. How are you going to energize your current workforce and retain them? What is your biggest weapon that you will use in World War Tech? Is it your people? Then you need to make sure your culture, development and satisfaction rating is up to par. What will your organization look like in 2020 and how can you capture talent to fuel your growth? Right now, your potential *fingers crossed* hires are interviewing you.
These are the sort of questions and more that we’ll be answering at our 2011 Strategic Talent Acquisition Seminar April 17-21 in Kuwait! We still have some seats left and I hope to see you there!