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Talent crisis could be good news for businesses

The war for talent could lead to positive steps for HR as recruitment is now firmly on the leadership agenda.

That's according Jerome Ternynck, founder of recruitment firm Smartrecruiters, who argued the talent crisis has been beneficial to businesses.

Speaking on a panel at Unleash World HR conference in Paris, he said: "The talent crisis is good news. Recruiting is not a recruiters problem any more, it’s a C-suite problem. Planes aren’t landing. Restaurants are closed, rooms aren't being booked.

"It's an opportunity to truly put the talent transformation on the agenda of the C-suite. It's an opportunity to stop talking about cost per hire and time to fill."

"Faster and cheaper - is that how we want to be measured as an organisation? It's time to reframe the problem and say the talent crisis is a marketing problem. If we really are strong at attracting talent and taking a CMO view of the problem, then the problem goes away."

HR managing the talent crisis:

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Research conducted by The Open University in April 2022 showed the impact skills shortages are having on businesses - 72% of staff were dealing with an increased workload, while 78% of businesses admitted seeing reduced output, profitability and growth.

Chris Havrilla, vice president of product strategy and talent at Oracle, said talent crises are made worse when companies don't fully understand what skills are required.

She said: "If you’re using talent acquisition to solve every one of your problems, you need to take a step back to understand what the problem is. We as organisations aren’t truly understanding what the work is. We've been thinking in jobs and roles for so long – teacher, software engineer for example.

"My last four jobs, I had never done before but it didn’t mean I wasn’t perfectly qualified. It didn’t matter where I went to school or how many years of experience I had. We’re moving towards a model of exchange of skills and capabilities for the work of an organisation, but we don’t know what those are."

Bas van de Haterd, founder and managing director of Digitaal-Werven, added: "Do we have a crisis in finding the right talent? Yes, but that’s not because the talent isn’t there – we just don’t recognise it. We think some paper called a CV is the beginning of any career. As soon as we can actually define what skills are and talk about them, the talent crisis is over."