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Competing for talents in TMT industry

Contact: Tamara Vlastelica Bakic
Deloitte in Montenegro
Senior Coordinator
+381 11 38 12 100

Two-thirds of technology and telecommunications companies expect their workforce to grow by at least 6 percent over the next 12 months. The latest Deloitte survey in the field of human resources and TMT “ Competing for Talents” shows that 15 percent of companies expect the workforce growth more than 20 percent and, only 6 percent expect their workforce to shrink. 1 

Even 67 percent of respondents believe that the critical skills they need to support their future growth are readily available in the marketplace. Technical and innovative/creative talent is generally the most difficult to come by. And the problem is expected to increase over the next three to five years. According to the survey, 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.

The majority of technology and telecommunications companies continue to rely on financial incentives and other traditional approaches for luring and retaining talent. These outmoded techniques might work for awhile, but they don’t address the long-term problem. For today’s workers, hefty compensation packages and fancy retirement plans just aren’t as appealing as they used to be. What they really want – more than anything else – is to control when, where, and how they work. They’re happy to work hard, but want to do it on their terms.“, commented Jelena Galić, senior manager in Deloitte Management Consulting. The good news is that many respondents have already started down this new path. The survey shows plans for a significant increase in communications, mentoring, training, and other things that appeal to today’s workers. “ The next step is for companies to develop such programs as mass career customization that make personalized career development a standard operating practice, rather than a one-off exercise reserved for special circumstances.”, added Jelena Galić.
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1 The Survey was conducted in the Spring of 2007. Over 150 North American Technology, Media, and Telecommunications companies participated in the survey.

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