Business Implications of the New Reality 2008: - Stanton Chase ...

9
The New Reality 2008
Respondents indicated that the current
shortage of talent affects all levels of their
organizations. Almost half of all
respondents (48 percent) said that the
current shortage of talent critically or
significantly affects the senior management level in their organizations. Forty-five
percent each reported the same effects on the executive level and in middle
management. Overall, 37 percent reported critical or significant effects on the
professional level (legal, accounting, medical, etc.) in their organizations.
Respondents from the U.S. reported these effects more so than did Canadian
respondents: 39 percent of U.S. respondents reported critical or significant effects on
the professional level, compared to just 28 percent of respondents in Canada.
The largest faction of respondents
reported that their organizations are
moderately concerned about The War for
Talent and this New Reality (35 percent),
and 32 percent said their organizations are significantly concerned. Respondents from
the U.S. are less concerned about the New Reality than are their Canadian
counterparts, with a quarter of respondents from U.S. companies reporting that their
organizations are somewhat or not at all concerned, compared to just 16 percent of
respondents in Canada. Likewise, 47 percent of Canadian respondents reported that
their companies are significantly or extremely concerned with the New Reality, while
just 41 percent of U.S. respondents did the same.
Preparations for the New Reality
Almost half of respondents (49 percent) indicated that their organizations are
moderately prepared for the New Reality, meaning that they are currently in the
process of planning and implementing a plan to address the talent shortage. Just more
than a third of respondents (36 percent) reported that little or nothing is being done
within their organizations. Just 1 percent said that their companies are totally
prepared for the New Reality. While these numbers are not reassuring, they do
indicate hope for successfully managing the New Reality: at the very least, these
companies recognize the New Reality and realize they must take action.