Well, it’s been almost 18 months since my last post. A lot has happened. I’ve spent most of that time in proof of concept for a new business that leverages two key business megatrends. I’ve talked to countless C-level and Human Capital leaders and hear a very consistent frustration – they cannot economically find and retain the talent necessary to achieve their short and long-term business success. Hence, this complex, yet energizing talent problem has been my major focus for the last year and a half. This business challenge also formed the motivation for the new and exciting journey on which I am about to embark.

First, businesses are struggling to find and keep the skilled talent and leaders they need to meet their business goals (over 3 million viable jobs currently aren’t getting filled). The talent exists, it’s just not readily available. A full 85% of the qualified talent for any given opening is passive, that is, those “candidates” are not looking for those opportunities. They are working hard and successfully for someone else. Plus, organizations are being squeezed by financial pressure to do more with less, meaning less full-time headcount is being approved to get the work done. In response, more and more of the “work” of organizations is being done by someone other than organization’s full-time people. In fact, by the end of this decade, it is being projected that less than 50% of an organization’s work will be done by full-time employees.

Secondly, baby boomers are moving through their eligible retirement “windows” very differently than previous cohort groups. For various legitimate reasons, they are not going “cold turkey” into retirement as their predecessors. They need (financial) and want to keep their hand in regarding work. Further, when they leave the full-time workforce, they take enormous intellectual property and capital with them that could be very useful to their and countless other businesses. Add that to the reality that many highly talented people are looking for a viable alternative to the bureaucratic corporate grind (see the Harvard Business Review May 2012 article on “The Rise of the Executive Super Temp”). In many cases, an organization’s most talented people are the most “at risk” of leaving if not fully engaged and appreciated.

Therefore, the time has come to perfect a new “win-win” business model regarding how to leverage talent for competitive advantage. I envision a new Talent Paradigm where organizations can successfully leverage talent that does not exist on their full-time rosters in what the late management guru, Peter Drucker, called “Intellectual Capital on Demand”. This business model allows organizations to have specific talent they desperately need and only when they need it. This new talent mindset provides a very cost-effective approach to achieving organizational success with “just in time” and lean principles that will help progressive organizations to win in their marketplaces.

This model also provides a unique value proposition for the talented people mentioned above. These “talent experts” with great, proven skills and experience are able to pick and choose great work and how to leverage their talent. It allows them to balance their need and desire to provide high impact value and do meaningful and fulfilling work while better balancing their life priorities more effectively. It also provides a wealth of great work experiences with great companies to hone their already formidable skills.

Stay tuned – A new and powerful “Talent Partner” is about to burst on the scene for progressive organizations with the vision to finding a better way to leverage world class talent.

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Just found this on YouTube. A video by Google.

Many organizations still view talent acquisition as nothing more the basic HR tasks involved in attracting, hiring, and on-boarding personnel. These organizations react to the changing talent landscape simply by investing in recruiting technology to increase efficiency and control costs. This reactive mentality focuses continuous improvement efforts on combating loss of revenue and not on cultivating talent acquisition as a competitive competency to drive value creation.

To take full advantage of the opportunity the talent shortage presents, executives must begin to think of the talent acquisition process as a long-term value generator and plan accordingly. The old model of investigating and engaging a group of prospective employees only when there is a need is no longer viable or cost effective. Instead, companies must proactively promote a strong employment brand message and manage an active talent pipeline of “future” employees in order to be viewed as an employer of choice for the best talent.

When considering the ramifications that this shift in strategy can have, companies should remember that there is a direct correlation between quality of talent and value creation. The right technology and service investments are more than paid for by the positive impact high-quality recruiting can have on the performance of an organization. The successful implementation of this philosophy will determine the achievement and longevity of organizations going forward.

Your competitors will do what it takes to gain influence over both the top available talent and your currently employed best people. As the talent well dries up, winners will leverage recruiting as a competitive competency, not a transactional task.