Retiring baby boomers creating high tech talent crisis

by Stuart Corner

Monday, 02 July 2007

Page 2 of 3 It adds that: "The vast majority of companies in the Deloitte Technology Fast 500 plan to grow organically, rather than through mergers and acquisitions, which means they have a huge talent pipeline to fill. That might explain why Deloitte Technology Fast 500 CEOs prescribe 'training and education' as the best way to stimulate growth." And these CEOs do not have great faith in the state fulfilling this role. "CEOs in Asia Pacific seem particularly concerned about their national education systems, with most of them rating the current systems as only 'somewhat successful' or "not successful' at producing workers with the required skills. CEOs in the United States and EMEA express greater confidence in their countries' educational systems. Yet even in these regions, businesses would be foolish to rely on others to solve their talent problem." Companies also place a premium on strong leadership and decision-making. "In fact, CEOs have made it their top personal challenge to develop the next generation of leaders, a segment of the workforce that is particularly critical to future growth and success." With a strong focus on nurturing in-house talent, retention was also top of mind for the surveyed CEOs. According to the report: "Stock options and other equity-based financial incentives are particularly common among US companies. Yet numerous studies show that financial rewards have only a limited impact on workforce loyalty and performance....Beyond a certain point what employees really want is a company that helps them develop their capabilities, deploys them on assignments that fit their skills and interests, and helps them connect with others through meaningful relationships. "Companies in the United States may offer employees lucrative stock options, but most of them also provide flexible work hours, as well as formal training and career programs tailored to an individual's needs. These are the kinds of perks that keep employees happy and productive." << First page <   1 2 3 Next page > Last page - Post your comment >>

 

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