Global competition for talent
Since the term War for Talents was coined in 1998, the shortage of skilled professionals – especially in STEM fields – has become a key issue. Reasons include demographic shifts and a lack of young talent in relevant disciplines, particularly women. Measures to reverse this trend take time, and the gap continues to grow. Companies can no longer rely solely on domestic labour markets and now compete internationally – often against emerging economies with well-trained and lower-cost workforces.
Shifting power dynamics in the job market
The shortage is shifting the balance of power. Sought-after professionals have more choice, yet many fail to act on it, stuck in outdated job market thinking. A personal and professional assessment helps clarify personal goals and improve positioning. In response, companies invest in employer branding, flexible working models, and retention strategies. Talent development has become a priority. To retain key staff, employers must offer more than just jobs – they need to offer meaning and prospects.
Articles on the topic
Career success through specialisation
50+ (self) underestimated potential