Amid one of the deepest recessions ever to hit the United States and with the official unemployment rate approaching 10%, companies should have little difficulty retaining key
Why then are supply chain leaders citing talent recruitment and retention as oneof their top concerns in 2010 and beyond?
We think the Great Recession is partly to blame. The scarcity of job openings caused by the downturn can, paradoxically, engender a false sense of security when it comes to keeping valued employees. Many individuals who show no outward inclination of wanting to change jobs are polishing their résumés and LinkedIn profiles in readiness for the economic turnaround. Moreover, survivors of the downturn have had to learn how to achieve more with less; these skills make them even more attractive to enterprises intent on luring talent with improved compensation packages and appealing career prospects.
In addition, shedding staff when the economic chips are down will come back to haunt some enterprises. Cutting too deeply not only hurts a company’s reputation as an employer, but also benefits organizations that are savvy enough to recognize an opportunity to recruit premium talent. “We have picked up an amazing amount of talent in the last 18 months. So many companies have cut back and seem to be doing it without regard to people’s abilities,” says the CEO of a third-party logistics services provider (3PL).
Supply chain leaders are aware of these recessionary dynamics and fear an exodus of top talent over the next few quarters as the focus shifts to market growth.