This Week's Herman Trend Alert Navigating the Next Year

The Herman Trend Alert June 20, 2007 Global War for Talent Employers worldwide are stressed. They're challenged to find, engage, and retain the skilled workers they need to manufacture their products and serve their customers. Some companies have had mission-critical jobs open for more than a year. One hospital has been looking for a physician for three years. Consultant Ira Wolfe's "Perfect Labor Storm" is here. What's behind this "storm" is a combination of years of low birthrates in the developed countries with unprecedented global prosperity and shortages of trained workers. Complicating this difficult situation is the competency deficit and a lack of leadership. When the schools are not adequately preparing young people for work or college and employers haven't been training their next generation of workers, it is a set-up for disaster. In some countries, notably Mexico and China, the productivity simply isn't there. According to fellow futurist Edward Gordon, "the productivity of China's workers is only 14 percent of their United States counterparts." When Joyce spoke at the first Human Capital Conference in Japan, back in 2000, the VP HR for Intel Asia complained that his productivity was one-third that of their US operations. And the wages in both India and China are growing exponentially. According to a study by the World Bank, titled "Global Economic Prospects 2007", real wages in China appreciated a whopping 110 percent between 1989 and 2004. Advancing technologies address some of these deficits, but they only increase the demand for more highly skilled workers---in short supply. Offshore, though we find the schools in India, Germany, and elsewhere doing better at job-preparation, the training is insufficient to meet the increasing demand. Going forward, retaining and engaging top talent (being an Employer of Choice(R)) will be the global strategic competitive advantage. Not surprisingly, Singapore-based Universal Network Intelligence has engaged Joyce to deliver a two-day workshop on Advanced Talent Engagement in early August. Different from the domestic Employee Retention Specialist™ Certificate Program (http://www.employeeretentionspecialist.com), this customized learning experience will include numerous case studies of multinationals operating in Asia. Visit http://www.uninetintelligence.com/pdf/SGT128_TE_CoverPage.pdf or contact Ashley Koh at Ashley@uninetintelligence.com. This global tightening of the labor marketplace is only the beginning. © Copyright 1998-2008 by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." RESOLVE TO ADDRESS EMPLOYEE TURNOVER IN 2009 If you knew just how much money turnover is costing your company, you would have handled it ages ago! Turnover costs A LOT and it comes right off the bottom line. Let The Herman Group and its team of very experienced consultants help you address your turnover issues right away. We have an impressive track record and stand ready to help you. Call Carol at 800-227-3566; international, call 336-210-3547 for a no-obligation conference call. EMPLOYEE RETENTION BEGINS WITH GOOD SELECTION If you are not using pre-employment assessments, you are flying without radar---not very smart in today's highly competitive environment. Let us help you better understand your candidates and your employees. In less than 30 minutes, you will know if they can do the job (abilities); their work behaviors, even their personality and attitudes (like integrity & ethics), and those can't be trained. It's very cost effective, too! For more information, contact Joyce at 336-210-3548 or e-mail assessments@hermangroup.com. Validated for many countries and cultures. We offer in-depth help with job descriptions, too! GET INSIDE THE MINDS OF YOUR EMPLOYEES Find out what's really going on inside the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-648-1918 or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. To read this Herman Trend Alert on the web: http://www.hermangroup.com/alert/archive_9-24-2008.html. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. 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