Despite all the negative financial news flying around many interested observers have indicated that 2013 will be the year of the Talent Crunch where qualified candidates and potential employees are outnumbered by available jobs. This has definite ramifications for both job seekers and employers alike. For employers it might be a good time to look at how engaged your current employee base is. With the option to find employment elsewhere what can be done to keep the employees you have? How engaged is your workforce? What is being done to not only avoid losing them but to stop them looking at options?
We all accept that financial compensation is not the only reason an employee accepts a position or stays in one. A company's cultural values, an employee's sense of worth and importance within the success context of a company are just as important as they pay cheque they receive every two weeks. Is what your company doing on a daily basis recognizing the importance of your employees in a meaaningful way? Engagement interviews are a good way to determine whether or not you have a workforce that has bought in to your company. Take it a step further though and conduct a HR SWOT analysis and consider your engagement interviews Stay Interviews. What will it take to ensure your valued employees Stay with you in what will undoubtedly become a more competitive environment.
How relevant and meaningful is your company within the larger community? What are the common perceptions people hold about who you are? Are you considered an employment destination candidates want to rush to? What is keeping great talent away? Conversely what is bringing the candidates to you? Can this be replicated and developed further?
For Job Seekers a Talent Crunch is great news. Firstly there will be a lot more options. This means not just accepting the first offer that comes along. However it is also the perfect time to sharpen your competitive pencils. Employers will be competing for the best candidates. Read Best candidates and not just any candidate. This is the perfect time to update resumes with relevant experience and training targetted towards the field of vertical you want to work in. With a talent crunch a lot of people currently employed will be looking at their options. Potentially you might see a lot of candidates applying for a job realizing that they have a degree of mobility options to consider. You'll need to stay ahead of the pack and ensure you are still bringing the best application to the game.
2013 will bring a lot of options. The message in a talent crunch is however the message that should be heeded in any employment climate. What are your doing to keep the best employees you have? What are you doing to ensure you attract the best talent? As a candidate what are you doing to stand out? What makes you shine?
