The Technology, Media & Telecommunications (TMT) industry practice, in conjunction with Talent practice, surveyed more than 150 technology and telecommunications companies in North America in 2007 to understand their most significant talent issues and what they are doing to address them.

The survey found that the majority of technology and telecommunications companies continue to rely on financial incentives and other traditional approaches to attract and retain talent. These techniques are outmoded and will not address long-term problems. The survey also concludes that certain companies in the industry are starting to take steps in the right direction, but most have a long way to go to meet the diverse needs that employees have today.

Key findings of the survey include the following:

• Two-thirds of respondents expect their workforce to grow by at least 6 percent over the next 12 months, and only 6 percent expect their workforce to shrink.
• Technology and telecommunications companies surveyed are generally less worried than companies in other industries about a prolonged global labor crisis.
• Respondents that fail to address their talent management challenges over the next three years will feel the pain where it really hurts: in limited growth, increased time to market, reduced innovation, damage to customer relationships, and more.
• Forty-four percent of respondents have either not defined a list of critical skills for future growth or are in need of updating their list to meet current needs.
• Roughly, a third of respondents regularly discuss the talent shortage at board meetings, while another third discuss it once or twice a year.

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Related content: 
Industry: Technology
Industry: Telecommunications
Service: Human Capital
Service: Talent