One of the biggest challenges facing companies in the next decade is the shortage of talented workers. Post-recession, the so-called ‘war for talent’ is well and truly on. Companies are battling both to retain their best talent and are also struggling to fill skilled vacancies. A CIPD study found that managerial, professional and technical posts were proving the toughest to fill.
Employers must act now to address this situation. Clearly there’s no quick-fix solution. There is likely to be a number of fundamental issues behind the skills shortage. But there are a number of actions companies can take to best prepare themselves:
- Ensure employee engagement is on the agenda at boardroom level – investment in engaging and developing talent is crucial to retaining skilled workers.
- Create a talent pipeline and use the strategy to identify talent needed for the future.
- Embed an automated performance and talent management programme – this helps companies find future leaders within the organisation and identify future skills shortages
- Focus resources on strengthening and promoting your employer brand – this will help as you battle it out for the best and brightest talent
Other steps companies are taking to counter the problem include taking on more intern workers and even sponsoring students through university. But the above list of suggestions must be the starting point for companies, the minimum requirement. These steps are pre-requisites for medium and large companies to remain competitive.