In 1997 McKinsey published their famous study on the War for Talent. The conclusion to that study was that the war for talent would remain a defining characteristic of the competitive landscape for decades to come. But what was more shocking and challenging was that most organisations were ill prepared and vulnerable to the challenges and impacts of this talent scarcity.
Now in 2011, some twenty four years later, the post Global Financial Crisis environment has many organisations once again confronting that same search for talent. In the Australian and New Zealand market place talent management and retention has been elevated to a burning corporate priority.
In these challenging economic times the engagement of high performing employees will require from organisational leadership and human resource personnel, focus and priority. Not only is the scarcity of good talent a major priority but ensuring that existing employees have a clarity about their future with the organisation will require a significant hands-on effort from line managers for whom business strategy has often taken precedence and focus. Betting on the people will lead to significant competitive advantage!
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Donington has recently been welcomed as the Career Transition and Talent Management partner for Australia and New Zealand by Career Partners International . Founded in 1987 in the United States, Career Partners International comprises 64 Partner firms with over 1600 consultants and has 160 offices located in 20 countries including United States, Europe, Canada, Latin America and Asia. With Donington now offering its clients CPI services in Australia and New Zealand , Career Partners International becomes one of the largest organisations in the world offering a consistent range of human resource services to its clients.
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It had been some time since we had surveyed the market and, in addition, we were keen to review our career transition service offering to ensure that we were responding to our clients’ needs. During the GFC, there was a significant move towards a commoditization of outplacement services, as many organizations were impacted by the need to take out cost but also wanted to provide some, if not the most appropriate, support to exiting employees.
Over the months since the financial crisis we had been experiencing a re-focus on career transition and outplacement as an investment from some of our long-term clients, and wanted to confirm whether this was a general market trend.
In the last issue of the Donington Report, we advised that we would, in this issue, provide an overview of the results of the Career Transition/Outplacement Survey that we conducted last November.
We would like to thank all organisations who participated in the survey and extend an invitation to anyone to contact us for further information.
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In good times when jobs abounded, people could often land in new roles with little more than a resume service and a brush-up on interviewing skills. Outplacement services became commoditised in the last decade as a result. However, in the dramatically changed business environment of the 21st century, those tactics aren’t effective. Commoditised programs do little to achieve employers’ outplacement intent – to preserve reputation, remain an employer of choice and demonstrate an unwritten, ethical employee covenant. Other benefits, such as a reduction in unemployment benefit payouts and employee litigation, also evaporate with commoditised services.
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