Challenges in Hiring Talent - Research Paper Example

Prince (25), states that there has been a 10 % decline in the average quality of a worker since 2004. This has prompted companies to redouble efforts aimed at hiring the best candidates for the job at whatever cost. Between 1946 and 1964, America experienced massive economic growth that triggered the emergence of more companies and the increase in profitability of businesses in the country (Yates 47). During this time, a new breed of talented and driven managers, entrepreneurs and personnel also emerged, supported by the emergence of ‘baby boomers’ that propagated economic growth and increase in population.

The last decade has seen the retirement of a large percentage of these individuals, and a large vacuum has been left that may not be filled as soon as is expected. Businesses have therefore found it paramount to ‘fish’ for the best and most qualified people by employing whatever means necessary to make them a part of their vision. Apart from a decline in the quality of workers available and the shrinking of the pool from which companies used to draw their workers, there has been a great shift in the type of individuals required in the workplace.

Between 1946 and 1964, there was a massive increase in manufacturing, spurred by an increase in demand for industrial products and goods (Gilmore 34). A lot of emphasis was therefore laced on the need for workers who could support the manufacturing process, and this called for individuals who mainly had to follow procedures and carry out instructions as required. Little reasoning and judgment was required in these types of jobs that can also be referred to as transactional or transformational.

A change in needs, priorities and focus has left companies with no option but to scout for intelligent and clear-thinking people who can make decisions on their own and come up with solutions to problems without relying on their seniors. These types of workers are also good team players who are capable of working with other employees for the benefit of the company (Noe 76). This can be attributed to the emergence of a new type of jobs that are classified under the tacit category, in which intellectual capability and contribution is preferred over physical labor.

Question 2: Incentives (apart from salary) that a Company may use to Encourage a Prospective Employee to Accept a Job Offer With the changes taking place in the workplace, companies appreciate the fact that better or higher remuneration is no longer sufficient when looking to hire employees. Other factors have now been found to play a huge role in the ability of a company to not only hire but also retain the best workers (Hunt 59). These factors include opportunities for growth, good working conditions, good moral and ethical values and an appreciation of current and prospective employees.

Employees need to know that they can grow in a company and become better at what they do. Nobody wants to work for 10 years in the same position when there are other avenues for growth elsewhere. For instance, I may be paid $100,000 a year to head the sales and marketing department in a company, but I may not be willing to remain in the same position (especially if I deserve to be promoted). If a sales representative rises to be my deputy and I am still holding the same position I have had for the last 10 years then I am not growing on my job.

The salary may be attractive but growth is more important. When hiring