“The War for Talent” Is Real
As we vaccinate our way out of the pandemic, there has been pent-up demand with companies to recruit experienced and qualified personnel. The War for Talent and Retention of key employees does not just happen in the Technology Industry. I see it in today’s marketplace within the Manufacturing industry. Day after day, I network with recruiters , senior management and VPs and I run into the same conversation. Its hard to find experienced and qualified talent.
Within the last 5 years, the marketplace has shifted. What was once been an “employer driven market” has now shifted to do a “candidate driven market”. Experienced, qualified candidates related to the specialty niche industry are becoming harder and harder to find. 10 years ago, the Employer “called the shots” on salary negotiations, bonuses and ‘perks’ that they can offer. Now the candidate is starting to push back. If your initial job offering to a highly skilled, technical, and talented individual is not attractive, why would a candidate leave their current position? Counter offers to talented individuals within corporations are constantly occurring in today’s marketplace. Even though we coach candidates not to accept a counter offer at their existing company, Hiring Managers are desperate to keep good talent from leaving. The War for Talent Retention is real.
Not only does this “War for Talent” occur in the management ranks of corporations but Sourcing Skilled Trade talent [Licensed Millwrights 433A in Ontario and Licensed Electricians (442A)] for a company are equally tough. As a Canadian manufacturing recruiter, I get constant requests from corporations on finding Field Service Technicians and Licensed Millwrights within the marketplace. Companies understand that “Communication Skills and Technical Skills” go hand-in-hand. The combination of theses skills is what makes these candidates in high demand. They understand that losing (1) strong field service technician can cost the company millions of dollars.
Hiring Managers have to realize that talented and experienced individuals are in demand in today’s marketplace. In order to avoid counter-offers, I believe salaries have to be competitive and attractive in order for candidates to initiate a move to the new corporation. Offering the same or 5% more in base salary to an experienced, qualified candidate will not initiate a candidate to accept your offer. Counter offers are real. I suspect that this trend will continue post-pandemic and for more future years to come.
If you want to engage a Canadian Manufacturing Recruiter to help you navigate the “War for Talent”, you can contact me below.