Shortage of Talents – a Challenge for Modern Organizations

Abstract

Purpose-The objective of the paper is to highlight the issue of talent shortage in modern organizations, determine the main causes and outcomes of the phenomenon, and compare the shortage in Polish organizations with global trends. Approach-Based upon the literature, the paper applies Chodorek's approach to talent. Main challenges and determinants of talent management in modern organizations were established. A review of studies pertaining to the significance of talent management in modern organizations was conducted. Reasons behind talent shortage and its consequences for organizations were also examined. Findings-Both global and Polish trends indicate that talent management has become one of the chief challenges modern organizations face. Competition for talents constitutes a current issue and poses one of the critical challenges for HR departments. The shortage of talented workforce results primarily from unfavorable demographics and lack of appropriate qualifications of potential employees. It was observed that both in Poland and internationally, organizations voice problems with employing talented workers on the one hand, but frequently neglect to manage talents actively on the other. Few organizations possess a comprehensive strategy concerning the issue. The most significant consequences emerging from the shortage of talented employees include customer service capacity being limited and a decline in competitiveness and productivity. Originality/Value-The paper reviews and compares results of studies conducted by international consulting companies: Charter Institute of Personnel and Development, Deloitte, ManpowerGroup, Mercer, PricewaterhouseCoopers, Randstad, Boston Consulting Group. In addition, the shortage of talents present in Poland was compared with global trends. Paper type-Literature review.