The “War For Talent” is Underway
As economic and demographic turbulence surrounds the corporate environment, employers are facing challenges they’ve never before faced. The “War for Talent” is underway…is your company prepared?
During the years of 1946 and 1964, approximately 76 million “baby boomers” were born. Today, these individuals make up about 40% of the workforce in the United States. According to the Bureau of Labor Statistics, nearly all of the 24 million people who will stop working this decade will be experienced employees headed into retirement. Over the past several years, many have analyzed the data and the potential effect this departure will have on the economy and domestic business. Even in a best case scenario, companies will face a talent shortage, particularly in management and leadership positions.
Not only are companies anticipating drastic shifts in demographics, a significant reduction in leadership and professional talent, and an unstable economy, they are also being forced to navigate through the un-chartered waters of globalization, off-shoring, and outsourcing. Employers are daily working through core strategic issues that impair their ability to remain competitive.
Statistically speaking, the “War on Talent” is underway and those employers who recognize the need for innovative “people solutions” and a “talent mindset” will remain competitive. Executive Impact is committed to partnering with our clients to strategically define and develop an effective succession plan and to proactively minimize the effect of the impending talent shortage.
