This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2019/11/customers-can-everywhere-cant-talent/
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Written for EO by Vikram Ahuja. Ahuja is a serial entrepreneur, co-founder at X10 and founder of Byond Travel. He is also a member of EO Bangalore.
At the 2019 Web Summit, Ahuja joined a delegation of 16 EO members from 11 countries to lead workshops and speed mentoring sessions. As a Web Summit speaker, he presented on the rise of the “2nd City Office.” Read on for his perspective on the problem of finding talent.
If you’re like many global entrepreneurs and CEOs, you might be facing the greatest business challenge of them all: Great companies need great talent. And there has never been such a pronounced talent shortage in the world.
Consider this:
Talent is expensive
In mature Western economies (the US, UK, Canada, for example), it’s almost twice as costly to operate a business in 2019 as it was in 2009. Wages constitute the majority of that expense.
Talent is scarce
45 percent of employers around the world report difficulty in filling vacant roles.
Finding talent is time-consuming
45 days for a typical startup to hire a technology engineer. 65 days for an online company to hire a digital marketer. Today, finding and acquiring talent is not only difficult, but also extremely time-consuming.
Yet, 82 percent of companies don’t believe they recruit highly talented people.
Unfortunately, most enterprises find themselves fighting a losing battle. 44 percent of startups fail within the fourth year of their existence. More interesting, close to 50 percent of failures can be attributed to talent lead reasons (for example, not the right team or got outcompeted).
Bad team = #fail
“Go after the cream of the cream. A small team of A+ players can run circles around a giant team of … Read More
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