The War for Talent

For many years, business executives, consultants, and other economy watchers have been talking about “the war for talent.” These analysts argue that human capital (i.e. talent) will be the key differentiator in determining the future economic prospects for companies, regions, and countries.

A new Accenture study, the fourth annual High Performance Workforce Study, will add more fuel to this fire. The study surveys 244 leading executives in the US, Europe and Australia. It finds that 41% of respondents believe that the war for talent will affect their firm’s prospects in the next twelve months, yet only 17% described the skills of their workforce as “industry leading.”

The survey also contains some good news. In past surveys, executives have noted that cost control would be their primary mission in the coming year. In 2004, 42% plan to focus on growth in the coming year. Only 18% plan to make cost control a top priority.

To learn more about Accenture’s fourth annual High Performance Workforce Study, you can view a press release/summary of the report at: http://www.accenture.com/xd/xd.asp?it=enweb&xd=_dyn/dynamicpressrelease_747.xml