Global war for talent kicks into high gear with looming changes in the demographic and geographic labour market

July 2007

Aberdeen Group report, sponsored by First Advantage, provides strategic roadmap for recruiting and retaining top talent around the world

First Advantage is highlighting the recruiting industry's most pressing issue by sponsoring Aberdeen Group's report, "The Global War for Talent: Getting What You Want Won't Be Easy." The Aberdeen report includes a number of important new findings, including how 'best-in-class' organisations use strategy, processes and technology to improve recruiting efficiencies and compete for the best talent.

The report examines how global enterprises are adopting and adapting talent acquisition strategies in order to overcome the skilled labour shortage due, in large part, to changes in the demographic and geographic labour market. In addition to providing insight into best-in-class companies, this report also recommends actions to improve recruiting efficiencies and compete in the global war for talent.

Report findings include the following:

• Companies that implement, integrate and communicate a talent acquisition strategy are up to five times more likely to experience a decreased cost per hire.
  
  
• Best-in-class organisations are only 20 per cent more likely than their industry peers to measure quality of hire, but are four times more likely to increase this critical metric.
  
  
• Sixty percent of companies surveyed stated that 'future workforce planning' was a top factor driving their company to focus resources on talent acquisition.
  
  
• Best-in-class companies are more than twice as likely to have a talent acquisition strategy that is integrated with the company's overall strategic plan.

"Findings from Aberdeen's Global War for Talent report bring an ever growing issue directly to the boardroom doors," said Kevin Martin, research director, human capital management with Aberdeen Group. "The report clearly exposes the elevating importance of strengthening a company's talent acquisition strategy and integrating talent acquisition management into the company's overall growth plan."

"The global economy and significant demographic changes are increasing the competition to attract, hire and retain top talent," said David R. Wirta, executive vice president - Employer Services for First Advantage. "It was critically important for us to sponsor this research, which will help companies develop a talent acquisition management process and discover the technologies, strategies and processes needed to ensure future success."

To obtain a complimentary copy of the research, visit: http://www.fadv.com/Aberdeen07.

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