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Building and Seeding Talent Pools 1

(February 23, 2006)  With unemployment at 4.7% in the United States and the first of the baby boomers hitting 60, no one who wishes to grow a business can overlook the labor shortage. It's baaaaack.

In towns like Santa Rosa, CA (just down the street from our offices), the police department is struggling to find new hires. The small town will be short nearly a hundred officers in the coming year. That's with an entry level paycheck of up to $72K and lots of additional incentives. Santa Rosa pays nearly $100K to train and recruit new officers. They've launched a number of innovative advertising campaigns.

If Santa Rosa can not get police officers, your company can not get Security Officers. They are competing with you for the same talent which is in limited supply. The problem is global. Those who continue to wait to act face a crippling combination of staffing shortage and labor unrest.

The answer is planning, building, seeding and developing talent pools: Forecasting future needs and working to develop the talent for those uses.

One way to think about outsourcing, subcontracting and their related offspring (moving work and employment out of the company and into centralized centers of expertise) is that it is precisely a way to solve the first problem that comes to mind. How can a growing company possibly afford to identify, develop, execute and harvest relationships in specific disciplines (like security) when it is busy doing its own work.

This round of labor shortage will serve to underline this very first decision in talent pool development. ie, can you afford to develop a pool of talent for a specific expertise?

Over the next weeks, we will look very closely at Talent Pool development and all of the other sequential elements of Human Capital Management.

John Sumser

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         © 2013 interbiznet.
         All Rights Reserved.

         Materials written
         by John Sumser
         © TwoColorHat.
         All Rights Reserved.