The article in CNet News explores how businesses can beat the predicted talent crisis that U.S. faces.
The nation is in the middle of a talent crisis. The U.S. is estimated to face a 10 million worker shortage in 2010; the 500 largest companies are expected to lose 50 percent of their senior management in five years and the average tenure at one employer for U.S. employees is only three years. An extensive study by research and advisory firm Bersin & Associates last May showed that due to economic growth, demographic shifts (retirement of baby boomers) and new workforce values, organizations are experiencing an unprecedented corporate talent squeeze.
"Total rewards" packages (which don’t focus exclusively on monetary compensation) are considered one of the best ways to attract and retain star employees. Using benefits to attract talent might depress some small-business owners, whose sky rocketing health-care costs have forced them to cut back – or cut out – health-insurance offerings.
Learned from CNet News
