Talent Shortage “Tipping Point”…soon maybe!

Well signs keep pointing that way don’t they. If you are a decent business analyst in Auckland today then you are certainly a very sought after commodity for example.

The thing I feel that employers must keep in mind is the key HR practices.
Things like:
1. Is cross training an option or is the productivity curve to long?
2. Will our key people stay due to high engagement levels?
3. Do we act now or risk the counter offer war?
4. Who are our competitors for key talent and what are they up to?
5. If reward and recognition are the main factors behind people moving companies then are we doing the right things?

I have zero doubt that we are entering another talent short cycle but I do think we are at the early stages so there is time improve employee engagement and plan for the upcoming tipping point.
Workforce planning must have flexibility as a number one strategic imperative. Get the blend of Contractors and FTE’s right. The next thing I advise is some competitor mapping. This may be a bit new to some companies but I suggest this is also a strategic imperative. If you don’t really have a scan on what compelling opportunities might be in the market then don’t act surprised when people move on.
In certain skill sets the tipping point may be here now but generally I think its just getting very tight. This will be challenging for employers and recruiters!