Through the prime cost-cutting and downsizing years of the late 80s and early 90s, corporate executives would draw a cynical reaction whenever they mouthed the words, people are our most important asset. Now, when they say it, we are more likely to believe they really mean it. Why? Because if they dont, their very survival is threatened.
So what changed? For one thing, the bottom started dropping off the work force pool in the mid 90s and the economy just kept on creating more jobs. Now, the labour shortage is expected to only get worse through the year 2020, at which time we will look back and wistfully recall how easy it was to find and keep good people at the turn of the millennium.
Finding and keeping good people is now the primary concern of 75 percent of CEOs throughout the country because the shortage of good workers is disrupting customer service, driving away business, limiting expansion and causing some companies to go under. The war for talent is raging as companies jockey to become employers of choice by creating the most worker friendly environments, conditions and benefits.