Stanton Chase/Birkman Survey Reveals Talent Shortage Creating Crisis in Workplace

Jan 16, 2008, 00:00 ET from Stanton Chase International

    DALLAS, Jan. 16 /PRNewswire-USNewswire/ -- By 2010 there will be 11.5
 million more jobs than workers. It's called the "new reality" and it's
 happening now as baby boomers retire, leaving a drastically smaller
 employee pool to fill their jobs. These individuals lack the boomers'
 skills and experience and bring different work ethics, expectations and
 loyalties to the workplace.
     In a recent survey conducted by leading executive search firm Stanton
 Chase International ( and Birkman International
 (, 94.1% of respondents report current or impending
 shortages of quality leadership talent. Furthermore, 90.4% perceive a gap
 in talent between baby boomers (current corporate leaders) and younger
     Nearly half (48%) say this shortage critically or significantly affects
 their organizations' senior management level.
     "These numbers indicate a critical need for talent that's forcing
 organizations to rethink their hiring and retention practices-or suffer the
 consequences," said Steve Watson, international chairman of Stanton Chase,
 which has 57 offices in 35 countries and is a top 10-ranked global retained
 search firm.
     Most organizations are preparing for the talent search. Two-thirds
 (67%) are concerned about the situation and two-thirds are at least
 moderately prepared (64%), meaning they are planning and implementing
 strategies to address the shortage.
     Slightly more than a third (36%) reported that their organizations are
 doing little or nothing about it.
     Interestingly, only 55% said the CEOs of their organizations are very
 or completely willing to embrace strategies necessary to attract, assess
 and retain new generations of employees.
     Baby boomers have been the most stable and loyal workforce in history
 with average employee tenure 15 years in 1980 and 10 years in 2000. In
 2000, average tenure for Generation X (born 1965-1977) was five years.
 Average job tenure today is four years, according to the U.S. Bureau of
 Labor Statistics.
     "This lack of skilled and experienced workers combined with a
 multigenerational work force with varying values, work ethics and
 priorities plus economic changes are what the new reality is all about,"
 Watson said. "Organizations that do nothing about it have the most to
     Survey Methodology
     The survey was conducted among executives in the United States and
 Canada by Stanton Chase International and Birkman International. With a
 sample size of 560, they estimate with a 99% probability that results have
 a sampling error of +/- 5.5%. For full survey results, visit
Contact: Reeves Laverdure Public Relations (561)391-8717

SOURCE Stanton Chase International