The complicated economic situation has a strong impact on the labor market, the demand for employment increases while the offers decrease. However, the increase in competitiveness and optimization of organizations leads to the need for increasingly complete profiles and, in turn, more scarce in the market. <\/p>\n
It has become commonplace to talk about talent as essential for companies to survive and even thrive in the midst of the crisis and in an increasingly competitive environment. However, the current economic situation can lead to the temptation to think that our talent is safe, not worrying about its retention or believing that we will be able to find new talent easily. <\/p>\n
But this last statement will surely be refuted by any professional who is dedicated to selection. Finding talent in the market, despite an unemployment rate above 25%, remains surprisingly difficult. Finding qualified professionals who are prepared to take on tasks of responsibility with immediacy is a complex process, even more so than a few years ago. Let us provide some data. <\/p>\n
In its report on the effectiveness of human capital in the United States, PriceWaterhouseCoopers found that the voluntary turnover ratio among employees, which includes retirements and resignations, had fallen from 10.4% in 2007 to 7% in 2010, which is a good indicator. However, this ratio had increased from 3.7% in 2009 to 4.3% in 2010 among employees considered to be high performers, i.e. turnover among the profiles most valued by organizations has increased <\/p>\n
The British Chamber of Commerce (BCC), in a study published in October 2011, highlights that, despite the high growth of unemployment, almost half of companies admit to having many difficulties in finding the right person to incorporate into a position. They allude, mainly, to a lack of adjustment with the skills required for the position, including knowledge or level of competencies. <\/p>\n
A study published in 2010 by the CEDEFOP (European Centre for the Development of Vocational Training), even warns of the urgency of adapting training and skills development to the rapid changes and demands of the market. It highlights that in Europe between the period from 2010 to 2020 it is on the way to an economy where service- and knowledge-oriented occupations will prevail, with high levels of competence development. <\/p>\n
This indicates that the change in organizations and jobs is increasing in complexity rapidly, encouraged by the crisis situation and reduction of jobs, but it is not being accompanied in the same way by the development of the skills and knowledge of professionals and workers. For this reason, despite the fact that there is a high demand for jobs today, the task of finding the right candidate is a process that is becoming more complex every day. <\/p>\n
Thus, personnel adjustments made using financial and accounting aspects as the sole criterion may be decapitalizing our companies and, at the same time, affecting our growth options in the future. We must be aware of the growing demand for skills that we are demanding in jobs and therefore, of the increase in complexity in finding that precise combination of knowledge and skills in the labour market. And the forecasts for the coming years continue in the same direction, every day the labor market requires professionals with greater knowledge and skills, so this task will surely become even more difficult. <\/p>\n
With these trends in mind, when making decisions that affect staff, it’s important to keep a few ideas in mind regarding talent:<\/p>\n
1. Define what talent is for your company<\/strong>. We have to know what skills, what competencies are the ones that allow us to achieve the company’s objectives, the ones that generate value. Talent management must always be related to the business strategy. <\/p>\n 2. Establish a way to measure talent and MEASURE it<\/strong>. If we don’t count our talent, how can we know what we are losing? We must choose the method that best discriminates the talent profile we have defined and, in addition, use it. Talent management systems can be a great help to the business or a huge waste of time and money if they are not aligned with the needs of the organization. <\/p>\n 3. Recognize talent for the value it brings<\/strong>. In times of recession, people usually choose to control expenses and cut as much as possible, they work with what is strictly necessary and this usually leads to the most outstanding employees taking on more burden and responsibilities. It may not be the time to give back in monetary terms, but it is necessary to pay special attention to the bonds of communication and trust between employee and company, to promote a sense of belonging, commitment to the project and recognition of the employee’s contribution. <\/p>\n 4. Decide in the short term but think long<\/strong>. The decisions made at this time will have an impact on the future of the company. It is not only a matter of guaranteeing the present, but also thinking about the future. If talent generates competitive advantages in crisis scenarios, where can it take us when the situation improves? <\/p>\n 5 Always have a plan B<\/strong>. Keep in mind that as your organization optimizes its processes and improves productivity, jobs become more complex and the required skills are harder to find in the market. Identify those positions that are critical to the business, or those people who would give you a headache if they resign tomorrow, and start preparing others on your team so that they can take on that position when necessary. Back in 1992 Bill Gates said, \u201cIf 20 of my best employees leave, Microsoft would become a company of no importance.\u201d <\/p>\n Although companies are facing extremely complex scenarios, we must make an effort to see the opportunities that an adequate talent retention and development policy can offer. Talent management in current times has been marked by the crisis situation, and the coming years will be decisive in the processes of change, adaptation and competitiveness of organizations. This situation will require increasingly strategic work by Human Resources, which must be completely aligned with the business and play a key role in the organization’s strategy, both in the present and in the development of the business in the future. <\/p>\n Marta Rodriguez<\/p>\n Senior Consultant Psicotec Catalunya<\/p>\n","protected":false},"excerpt":{"rendered":" The complicated economic situation has a strong impact on the labor market, the demand for employment increases while the offers decrease. However, the increase in competitiveness and optimization of organizations leads to the need for increasingly complete profiles and, in turn, more scarce in the market. It has become commonplace to talk about talent as […]<\/p>\n","protected":false},"author":1,"featured_media":3310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,51],"tags":[],"class_list":["post-3771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","category-psicotec-en"],"_links":{"self":[{"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/posts\/3771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/comments?post=3771"}],"version-history":[{"count":1,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/posts\/3771\/revisions"}],"predecessor-version":[{"id":4498,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/posts\/3771\/revisions\/4498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/media\/3310"}],"wp:attachment":[{"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/media?parent=3771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/categories?post=3771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.psicotec.com\/en\/wp-json\/wp\/v2\/tags?post=3771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}