Job Market Monitor
Talent
Why is talent important? – Superior talent is up to eight times more productive
It’s remarkable how much of a productivity kicker an organization gets from top talent. A recent study of more than 600,000 researchers, entertainers, politicians, and athletes found that high performers are 400 percent more productive than average ones.2 Studies of businesses not only show similar results but also reveal that the gap rises with a … Continue reading
Talent for ICT in Canada – The immigration stream
The application and adoption of social, mobile, applications, analytics and the cloud (SMAAC) and Internet of Things (IoT) in sectors such as health, manufacturing, natural resources, financial services and government services has created strong demand for highly skilled workers capable of implementing and managing these technologies. However, Canada is experiencing a shortage of skilled ICT … Continue reading
High-skilled workers four times more likely to emigrate
Contrary to public perception, the migrant share of the world population has not changed substantially since the 1960s, with roughly 3 percent currently living in a country different from their country of birth. Global migration patterns, however, have become increasingly asymmetric as high-skilled migration has become a greater force globally. The international distribution of talent … Continue reading
Talents – The force changing demand and supply
CHANGES IN THE DEMAND FOR TALENT Six of the forces we identified are having a profound effect on the demand for talent. (See Exhibit 2.) We categorize them into two groups: Technological and digital productivity: automation, big data and advanced analytics, and access to information and ideas Shifts in ways of generating business value: simplicity in … Continue reading
Talent Acquisition – Should become more intertwined with all the functions of the business
Talent acquisition executives predict “workplace flexibility” will be the top reason why candidates choose an employer five years from now. This flexibility goes well beyond workers’ hours and location, to the very nature of the employee-employer relationship. That is part of another shift in the talent landscape: the move from a full-time employee base to … Continue reading
Talent War – Employers across the globe are facing the most acute talent shortage since the recession, according to the latest Talent Shortage Survey
● Forty percent of employers globally report difficulties filling jobs due to lack of available talent ● More employers than ever are filling talent gaps by training and developing their own people – this number has more than doubled since 2015, from one in five to over half Employers across the globe are facing the … Continue reading
HR – Leadership and talent management capabilities have a strong correlation with financial performance
Unlike other disciplines, such as corporate finance, leadership and talent management is a relatively undeveloped field in the application of data- and evidence-based approaches to value creation. Most companies do not address the most fundamental questions around leadership and talent development, despite huge expenditures—$40 billion annually by some estimates. Still, some companies get it right. … Continue reading
Skills Gap – A tech-talent list
In today’s rapidly changing digital landscape, companies that understand their talent needs and know how to meet them have a competitive edge. Here’s how they do it. While there is a broad range of skills needed, this set should be part of any company’s tech-talent list: Experienced designers and engineers. As customer experience becomes increasingly … Continue reading
Talent Recruiters Skills – The critical ones
Finding top recruiters is harder today than it was just two years ago, according to three talent leaders who spoke during a panel discussion May 3 at the Human Capital Institute’s Strategic Talent Acquisition Conference. But knowing what attributes to look for in new recruiter hires and what competencies to develop in existing staff can … Continue reading
Talent-Driven Recruitment – If you want to attract and hire a great person, you need to offer a great job
Performance-based Hiring boils down to common sense and these four recruiting rules: *If you want to attract and hire a great person, you need to offer a great job. That’s why recruitment advertising should emphasize what the person will be doing, not the skills needed to do it. There’s not a single top-talent person in … Continue reading
Skills Gap and Talent – Digital platforms could reduce employee-related costs by up to 7 percent
Businesses deploying digital labor platforms to their full potential could increase output by up to 9 percent, reduce employee-related costs by up to 7 percent, and add an average of 275 basis points to profit margins. Chosen excerpts by Job Market Monitor. Read the whole story at Managing talent in a digital age | McKinsey & … Continue reading
The Talent War – Why good employees quit
The nine worst things that managers do that send good people packing. 1. They Overwork People 2. They Don’t Recognize Contributions and Reward Good Work 3. They Don’t Care about Their Employees 4. They Don’t Honor Their Commitments 5. They Hire and Promote the Wrong People 6. They Don’t Let People Pursue Their Passions 7. … Continue reading
Talent – GPA’s are unimportant. Really? But you are not Google
How Google is driving hiring standards Let’s fast forward to today. Jobvite recently released their 2015 Recruiter Nation Survey. It’s always an interesting read, with great data and metrics, but one metric stood out, to me, above all others: “57 percent of organizations now report that GPAs are unimportant.” Do you see what just happened? … Continue reading
Downsizing – The folly of the traditional approaches
Traditional downsizing approaches suffer from several common pitfalls: Failing to factor in relative individual contributions: Blanket cuts often seem the fairest and simplest way to manage headcount reductions, but they often cut too deeply in hard-to-fill skillsets and too little in areas where skills are abundant. A better approach takes econometric and external talent pool … Continue reading
The skills gap in US – How companies can fill it
The labor market, meanwhile, has steadily bifurcated, with menial low-wage jobs on one end and high-skill, high-wage careers on the other. Technology and competition from emerging markets have undermined those in the middle. Yet at the same time, there’s a skills gap: in the US, nearly two-thirds of companies report having positions for which they … Continue reading
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