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Talent crisis is felt globally

Posted on March 11th, 2013 Read time: 1 minutes

While last week's Department of Labor Statistics' announcement revealed the biggest drop in unemployment since 2008, a recent survey reveals the talent crisis across industries is not only still strong but is also expanding internationally.

The Top Five Global Employer Rewards Priorities Survey, created by consulting firm Deloitte, the International Society of Certified Employee Benefits Specialists and the International Foundation of Employee Benefits Plans, found HR administration professionals around the world are zoning in on talent, which they view as the top challenge and action item for the next three years to come.

One-fourth of the 415 survey participants said finding, motivating and retaining skilled employees is their top priority. Baby boomers are beginning to leave the workplace at a quickened pace and many young job seekers lack the skills necessary to fill their positions.

"As boomers retire, many companies face a conundrum for how to fill jobs quickly," said David Lusk, principal for Deloitte Consulting and co-author of the report. "Their hiring strategies may need to go beyond simply preparing to fill the positions with a stockpile of resumes."

In addition to creating and maintain rewards programs that attract and retain talent, survey respondents highlighted several other goals for 2013. These include clearly aligning rewards strategies with business practices and branding, managing benefits costs and proving return on investment for rewards program spending.

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