The talent-shortage debate continues in the form of a recent survey by Novations Group, a Boston-based consultancy. According to the survey, most companies have seen some signs of a talent shortage. However, 39% reported no such indications. At the same time, one-third of organizations have already taken steps to update selection and recruitment criteria. Nevertheless, 10% of employers expect no shortage of talent in the next decade.
Confused? You're not alone.
"Our survey shows there's also widespread uncertainty on what's going to happen and when," says Novations Group Vice President Tim Vigue. "Some organizations are in a passive mode, while the smart ones are taking a hard look at their recruitment and selection procedures."
The Novations survey, which queried 3,100 senior human resources executives, also asked what companies are doing in regard to retiring baby boomers. The results:
- We anticipate a serious loss of talent and institutional know-how, but currently do not have any steps in place to mitigate this loss: 17.9%
- We're taking steps to mitigate our loss of talent by creating ways for baby boomers to gradually reduce their hours: 29.6%
- We don't expect an unusually large loss of talent with baby-boomer retirements: 39.3%
- Not sure: 14.1%