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Tuesday, April 19, 2011

Some Employers Find It Hard to Fill Jobs

Despite high unemployment and the sluggish job market, 23% of employers often find it difficult to hard to fill key jobs, according to recent research we conducted with over 700 firms across the U.S. Moreover, another 64% find it hard occasionally.

The findings reflect the challenge organizations always face when it comes to bringing in top talent. HR professionals know that whether it’s a weak or strong job market finding and recruiting certain key people are a demanding process. Moreover, the difficulty varies according to job level, industry, requisite skills among other things.

The survey also found that qualified internal candidates are scarce. Only 3% of respondents said they have an ample leadership pipeline to cover most of their needs. And the majority of 80% relies on a combination of internal talent development and select external hiring. As many as 17% routinely look externally before filling critical roles in the organization.

Virtually no employer feels confident of his or her own management pipeline. Management ranks are very lean, and nobody should be stunned by this reality, not after the organizational streamlining that’s taken place over the past two years. Now companies find themselves not just short-handed, but also fearful of the loss of their top performers. The year ahead holds great promise, but there will also be serious talent management challenges for organizations of all sizes.

Organizations with scarce talent management resources need a different strategy to secure the right talent for key contributors and pivotal leadership positions within the firm. Without this focus, an organization risks losing even more top performers, as these types of positions typically have greater scope and influence over other positions within the firm.

Without a well-constructed succession planning system for rapid replacement of key roles, and more broadly, a well aligned succession management plan to ensure firm-wide talent progression, organizations are highly exposed to risks of underperformance and further loss of talent.

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