May 14, 2007

US CEOs tapping overseas talent

According to a Deloitte survey reported in Consulting Times' May edition:

High-quality employees are the biggest contributors to company growth for 67% of the CEOs surveyed, consistent with 66% last year. Finding, hiring and retaining qualified employees is the biggest operational challenge for 48% of the CEOs, up from 41% last year. To attract employees, 69% are relying on equity compensation and stock options, down from 71% last year. Just over 50% offer flexible hours, up slightly from 49% last year. Training programs and educational opportunities are offered by 38% of the companies, up from 35% last year, and 31% provide a career path, up from 28% last year.

"When it comes to talent, supply and demand are out of balance, making employees more like consumers," explained Jeff Alderton, a principal at Deloitte Consulting. "And like consumers, if employees with those indemand skills sets are not receiving the satisfaction they seek from their workplace, they will find it elsewhere – with the competition. This will put an even greater strain on employers for available talent."

CEOs say their companies are turning to overseas talent, with 45% of those surveyed saying that they are currently offshoring, and 55% saying they plan to offshore in the next five years.

Well, if employees are more like customers why can't HR deploy all those cool marketing tools that marketers use for customer profiling, segmentation and retention, as a good friend of mine suggested.

Indeed, why not?