MSG Team's other articles

12073 Approach to Youth Entrepreneurship Policy Making

Youth is one of the prime and most important human resources of each and every nation. Providing growth opportunities, enabling and equipping the youth with skills required for acquiring professional qualifications as well as building entrepreneurial capabilities is one of the prime areas of focus of every country to harness the potential available. Building youth […]

9185 Entrepreneurship in Emerging Economies: Boom and Bust and Business Models

A New Haven for Western Capital Ever since the opening up of the global economy in the 1990s, several hitherto Third World countries in Asia and Africa began to liberalize and integrate themselves into the global economic system. This meant that there were more chances for entrepreneurs in these countries and from abroad to flourish […]

9711 How to Manage Skills and Endorsements on Linkedin

Linkedin Advises: When you log in to your LinkedIn account, it sometimes comes up with a suggestion whether you are willing to endorse some of your connections for certain skills or not. In this case, you do not have to think much about which skills you need to endorse people for. A pop-up shows at […]

12685 Challenges in Employee Retention

In the current scenario, a major challenge for an organization is to retain its valuable and talented employees. The management can control the problem of employees quitting the organization within no time to a great extent but can’t put a complete full stop to it. There are several challenges to it. Let us understand the […]

12703 The Challenges of Recruiting and Onboarding Remote Employees in Virtual Workplaces

The Recruitment and Onboarding of New Employees in Virtual Workplaces With much of the corporate world operating virtually and where WFH or Work from Home is the New Normal, HR (Human Resources) personnel find it challenging to conduct regular HR work in such models. This is because unlike in physical offices, they cannot come face […]

Search with tags

  • No tags available.

There is a global war for talent going on and it is being fought on one side by the multinationals that want the best talent available for themselves and on the other side, the workforce that is seeking to derive the maximum advantage from the companies. Ever since the arrival of companies like Microsoft, Google, GE, Goldman Sachs, Facebook etc. onto the global stage, the war for the right employees has heated up with these companies willing to pay astronomical amounts as salaries and humungous perks and benefits.

Indeed, the situation now is such that in b-school and engineering campuses, the fight is on for which company gets the day zero slot as that company would have access to the best talent. Often, we read about how Facebook or Google has hired a yet to graduate student for annual salaries that make one’s head reel. This is the direct result for the need of these and other companies to get the best possible talent.

Of course, with the onset of the global economic crisis, it was reported that millions of people were thrown out of their jobs including a hundred thousand well-paid Wall Street employees. This has somewhat leveled the playing field as these out of job workers jostle with the fresh graduates for employment.

However, global multinationals are yet to hunker down on their hiring strategies, as they want graduates from Asian business and engineering schools for their operations here and in the United States. The reasoning behind this is that the linkage between brainpower and corporate success has been proved repeatedly and hence, the perceptions of the multinationals that the best brains are to be found in these countries. This has made the business school graduates from countries like India much sought after. The moot point here is that the combination of skill, training, aptitude, and motivation is what sets apart the graduates from these countries from the West.

This situation has become worrisome for domestic companies that find themselves in later day slots on graduate schools’ placement sessions. Of course, they have not given up entirely since the labor pool is so large that it can provide enough employees for any number of employers. Though we have discussed the positive aspects of the war for talent, it needs to be mentioned that concerns over employability of the graduates or their suitability for jobs have been raised by many companies. Which means that the graduates in the workforce who are employable and who have the traits discussed above are at a premium when compared to other graduates? This is the real war for talent, which can be rephrased as the war for the creme-de-la-creme of the available talent.

Finally, with globalization of the world economy, talent need not be hired from the domestic market alone and this is another factor that is contributing to the war for talent.

In other words, the various aspects described here are the business imperatives that are driving this phenomenon. The ones who are laughing all the way to the bank are those graduates who have invested in themselves and acquired the necessary traits to perform in a global economy.

Article Written by

MSG Team

An insightful writer passionate about sharing expertise, trends, and tips, dedicated to inspiring and informing readers through engaging and thoughtful content.

Leave a reply

Your email address will not be published. Required fields are marked *

Related Articles

Current Trends in Talent Management

MSG Team

Achieving Competitive Advantage through Talent Management

MSG Team

Benefits of Talent Management

MSG Team