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Competing for Talent

A Survey of Talent Trends in Technology and Telecommunications

Competing for Talent

The Technology, Media & Telecommunications (TMT) industry practice, in conjunction with the Talent practice, surveyed more than 150 technology and telecommunications companies in North America 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 for attracting and retaining talent. These techniques are outmoded and will not address long-term problems. The survey also concludes that 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 of employees today.

Key findings of the survey include:

  • 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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