Are talented people scarce in the labor market?

Victor V Lopez Molina

Consultant Partner Viclau International


Weeks ago I was invited to give a 45 minutes conference about talent search and the future of acquiring new talent despite of the “lack of commitment” of the millennials.

I was advised that my audience was not people from HR (Human Capital, People, or the name you want to give to the area) but people from Finance, the heads of the area, CFO and in some cases the CEO of the Company, in few words, people who manage the money and have the final word in looking for the best talent available.

This advice made me change the format, I was not going to “deliver” a conference, instead I I will answer 3 questions about talent search and have an open discussion.

Three days in advance my host sent me the three questions suggested and in this space I will cover them one by one

Q. Are talented people scarce in the labor market?

Before I gave my answer and opened the discussion, I told my audience a little about my background.

I am a physician with training as a Psychotherapist, and I have my practice since the beginning of the ‘90s, but I also studied a Master Degree in Hospital and Medical Care Administration, that means that I know about management and I had worked for Multinational companies, before I started my Consulting firm 15 years ago, with clients from different Cultures, backgrounds, markets but with a common issue: they want or are dealing with change crisis and that was and is the reason they look for us.

My answer was and still is: there is NO lack of talent, but Companies with bad reputation in the market.

My audience was living proof of that, I had one of the best collections of Finance Talent available.

Some told me that they were not in the market, but all of us are in the market, our Ego loves that somebody recognizes us, especially outsiders.

But then why they are not willing to move, because they feel good in their Companies, they have recognition and the position to help, or have, the final decision in investing and direct the company in achieving its vision.

When they look for talent they want the people with the passion for achievement and they must share the same values of the Company, or at least the same values of the person who is going to make the final decision.

“Silver spoon” is not enough, or not even needed, although some recruiters insist in looking for graduates from top Universities, where values are underestimated.

People who are willing to enjoy their lives, with active participation in extra curricula activities and sports will feel happy to contribute to the success of their Company.

Companies with good retribution packages are attractive, but if they have a nice image in the community, understanding the needs of their employees, participation in the community improvement, collaborate with Universities in developing their plans for different careers, the will have a waiting list for an open position.

Our Talent Search firm has two clients, the one who pays our bill, not negotiable, and the candidate who is willing to take a risk to improve their career through devolvement and challenges plus a good future for the family, which must be important for the company, and then the retribution package will feel good in the pocket.

We help to move a good person, with successful results, to a Company that will appreciate him/her and offer development, challenges and the possibility to fulfill their potential, keeping family together and mental sanity intact.

A “golden cage” with a great package, sometimes paid under, not so clear rules, “to benefit” the executive is the best test to understand that you will acquire a mercenary, and no a committed executive, that eventually will leave for another “good offer” or victim of “burn out”