A recent white paper from SAP proclaims: ”The ability to attract, retain and manage talent will soon become one of the biggest factors in determining organizational success”. While the paper is focused on the unique challenges that millennials pose to organizations, the points it makes are broadly valid.
By now you have all heard the gloom and doom surrounding the current talent shortage plaguing the economy, especially as it relates to high skilled and manufacturing jobs. While that may be true in very specific localized geographies, a recent report from Boston Consulting Group offers intriguing insights that apply beyond just manufacturing. Availability of the right talent at the right time (Competency Based Talent Management-CBTM or Talent Supply Chain Management-TSCM, take your pick) have been and will continue to be a major competitive differentiator for your company. However, depending on the educational system to be your supplier of talent is highly risky. Having worked on this issue for almost 2 decades gives me some license to opine.