Talent War Still Raging

March 12, 2002 (PLANSPONSOR.com) - Three quarters of senior executives who participated in a recent survey said they are still engaged in a "war for talent" despite the faltering economy and extensive layoffs.

Highest on recruiters’ skills hit list, according to the survey: leadership and management skills.

At least among the firms who participated in the survey by consultant Accenture, job cuts appear to be tapering off.  Seven of ten respondents said their staff levels would remain constant or increase slightly. More than half said any hiring would likely come by the end of the first quarter.

In examining other corporate concerns, the Accenture survey, conducted by research firm Wirthlin Worldwide, found that:

  • 20% of respondents said their workers don’t have enough information to do their jobs,
  • 35% said their workers don’t understand the company’s business strategy, and
  • 31% say that workers can’t collaborate effectively across the company

To address these issues, executives said they planned to engage in a combination of initiatives, including:

  • 78% said they would retrain staff,
  • 88% plan to restructure roles and responsibilities, and
  • 56% will outsource needed capabilities

The survey also included positive news for the travel industry: 81% of corporate executives said that business travel would increase in 2002. Only 17% said their travel cutbacks were permanent.

The survey involved 150 senior executives from FORTUNE 1000 companies in December and January.