War for Talent Reemerges

April 27, 2010 – Despite economic reports that the end of the recession is near or already over, 86 percent of U.S. workers feel the economy is still in a recession, according to the Workplace Insights Survey from recruitment solutions provider Adecco Group North America. In addition, 78 percent of workers believe this is the worst job market they've ever seen in their careers. Nevertheless, workers of all ages are starting to think about (or have already started to explore) new job opportunities. This trend indicates that a war for talent might be in its early stages and employers should brace for workforce changes in the year ahead. According to the survey, Generation Y is the most ready for change in the year ahead. Compared to the end of 2008, the percentage of Gen-Y workers looking for a new job in 2010 has more than doubled (from 14 percent to 30 percent) and more than half (51 percent) of workers plan to go on (or already have gone on) a job interview as the economy begins to recover. And they are not alone – 30 percent of Generation X workers, 29 percent of Baby Boomers and 22 percent of workers aged 61 and over also have interviewed/plan to interview in the year ahead. “In the recent past, we've alluded to the likely impending arrival of a renewed 'war for talent' – a time when job opportunities will rebound and ultimate opportunity/control will shift from employer to employee,” said Rich Thompson, VP of training and development at Adecco Group North America. “These survey findings indicate that that is now starting to take shape and employees' mindsets have started to shift – they are ready for a change after riding out one of the worst recessions in American history and open to new opportunities.”