Hiring talented people has never been easy. Unfortunately, it’s about to become even more difficult as global talent gaps widen across numerous industries such as manufacturing, construction, and health care. Without enough talented employees, organizations will be hobbled and unable to compete—even if their financial coffers are full. The shortage of highly skilled professionals not only will make managing out of the downturn more complicated, it also will threaten economic prosperity worldwide. To sustain economic growth, the U.S. will need to add more than 25 million workers by 2030; Europe will need to add more than 45 million. Indeed, 70 percent of German employers are already hard-pressed to find the right people.
Simon Targett, editor-in-chief of The Boston Consulting Group, spoke with Rainer Strack, a BCG Fellow and senior partner and managing director at BCG, about what it takes to attract top talent, how to address the new realities of talent mobility, and how to cope with the most underutilized segment of the global workforce—women.