Global Trends

Attracting Practiced Employees in an Economic Upturn

A survey called The Global Talent Management and Rewards Survey conducted by Towers Watson and WorldatWork reveals that out of 1176 worldwide companies (314 United States companies) “cost-cutting measures taken during the recession had an adverse impact on employee workload” (HRM Guide, 2010). This is especially important now concerning recruitment of the workforce after the recession. Organizations are struggling to attract employees with desirable skills to merge into their companies: “The survey found that 65% of companies globally and 52% of US companies had experienced problems attracting critically-skilled employees” (HRM Guide, 2010).The atmosphere created by this business practice is hindering the acquisition of talented employees, not to mention creditable/talented employees are hard to come by in general. Employees do not want to seek employment elsewhere with the economic conditions being so unstable.

This study is a good reminder of how the economy plays a large role in human resource management. When the economy is weak ideas for growth can be pushed to the side, hiring freezes put in place, and the institution of temporary positions. MNC’s shift their focus away from employees and more towards companies. This places conflicting workforce demands in different areas (Vance & Paik, 2011, pg. 6-7). When it comes to hiring employees as the economy shifts upward, it becomes more difficult.

In conclusion, employers should look at their employee value proposition to focus on what would attract potential employees to the company. It will be especially important when recruiting for leadership; making it easier for leaders to transition to larger roles with greater advancement opportunities.

HRM Guide. (2010, September 14). Global Trends. Retrieved Oct 4, 2011, from Human Resource Mangement Guide: International Human Resources: http://www.hrmguide.net/international/global-trends.htm

Vance, C. M., &...