Slugging through the War for Talent

Take heart job seekers!

The chips are stacked on your side of the table, and in the war for talent, employers think they know what you want.

But most are still found wanting.

According to a study released today by Development Dimensions International (DDI), and Monster^®, today's job market is increasingly in the hands of the candidate.

The study, titled “Slugging Through the War for Talent: Selection Forecast 2006-2007,” reveals that 73 percent of staffing directors report competition for talent has increased since 2005, while 79 percent expect it to further intensify in 2007.

“Candidates are in a very powerful position—organizations need to think about hiring as a competitive practice if they want to attract the best people,”

said Scott Erker, senior vice president of DDI’s Selection Solutions.

“Right now, there is a significant gap between what candidates want and what employers think they want. That’s dangerous for organizations, because many don’t understand the motivations of the candidate sitting right in front of them.”

This is DDI’s third study of hiring and recruiting practice since 1999, providing perspective on the changing shape of the hiring market over the last eight years.

The report, which reflects responses from staffing directors, hiring managers and job seekers across five global regions, examines recruitment, selection and retention practices and reveals that a tightening labor market has subsequently led to a power shift toward job seekers.

In order to lure top talent in this increasingly competitive environment, the
findings suggest that employers must identify, understand
and respond to job seekers’ motivations and desires.

The study also outlines the tactics and strategies organizations can implement to improve their hiring systems and better meet job seekers’ needs.

“The recruiting industry has acknowledged for several years that retiring Baby Boomers, coupled with a tightening labor market, would eventually bring about an acute labor shortage. However, the survey findings indicate that this eventuality is already upon us,”

said Neal Bruce, vice president of alliances, Monster. “

Select Survey Highlights

• It’s a buyer’s market.

• There is a gap between employer perceptions and candidate realities.

• Turnover is rapid.
  

• Interviews can be dealmakers or deal breakers.

The executive summary, "Selection Forecast 2006-2007" is is currently available online from DDI HERE and the Monster Intelligence web site, HERE.

Check out the complete article on PRWeb.com.