Recognize This! – The need for key talent is so strong, “acqhired” is becoming a trend. Companies can no longer afford to ignore employee needs for appreciation.

I’m amazed by how many comments I still see in the articles and research I read like this one:

Quotation

“Reward = compensation = pay. I pay my employees well for doing a good job. What the hell do they want trinkets and happy-words for. How many times have you ungrateful whingers simply said ‘thanks’ to your boss for providing the pay that keeps you fed and housed.”

People believe they can get away with this kind of thinking because of the recent recession and the continued high unemployment rate. But the reality of the job market is quite different. Just a few highlights from recent reports on the topic:

* From a global survey of 700 CEOs, talent was the second most pressing challenge; in Asia talent is number one. (Financial Times)
* 49% of HR professionals think retaining and rewarding the best people will be the biggest challenge facing HR executives in the coming 10 years (SHRM)
* 52% of US employers are experiencing difficulty filling mission-critical positions within their organizations, up from 14% in 2010 (Manpower)
* Payroll grew in 42 US states in April, while the unemployment rate fell in 39, indicating broad-based strengthening in the labor market (Bloomberg)

That last point has become so critical in some areas some companies are acquiring entire companies just to get one person, then killing the product line of the acquired company.

The job market is improving, especially for key talent. Can you really afford to ignore people’s need for thanks and appreciation?