The HR Problem

Coming out from the world's greatest economic downturn, economic recovery is strengthening however employment growth is still lagging. The average unemployment rate across OECD countries from 08 –10 increased by just over 50% to 8.7%, with recent projections suggesting OECD rate may still be above 8% by the end of 2011. Australia has escaped the full extent of the global recession with an unemployment rate of 5.2% (May 2010) the lowest amongst OECD countries. New Zealand unemployment drastically fell from 7.1% December quarter 2009 to 6.0% March 2010. This fall ranks New Zealand as the 10th lowest unemployment rate amongst all 30 OECD countries.

Why is this happening?

Skills shortage and low unemployment, combined with an aging population steadily entering retirement and reduced migration of skilled workers means recruiting high-quality candidates is becoming increasingly competitive. Once recruited, risk of losing candidates remains - a lengthy time to fill or absence of an integrated Onboarding function can prove disastrous to your talent management strategy.

Has the problem gone away?

No! The reasons that have led to the “War for Talent” are still with us and will emerge more aggressively as organisations seek to recover from the current economic downturn. The intangible costs to an organisation which does not focus on the workforce planning is enormous.

Can you afford not to be competitive?

Organisations globally are acknowledging that the key to remaining competitive and to build a competitive advantage is to understand talent management and workforce planning.
Organisations that understand these dynamics and respond quickly will achieve results ahead of their competitors.

The solution starts with NGA.NET