Tomas Chamorro-Premuzic, a Professor of Psychology at Columbia University, where he teaches MBA students. says that when he began teaching MBA students they all wanted to work for corporate giants like Goldman Sachs, IBM, and Unilever. A decade later, those names were more likely to be Google, Facebook, Apple and Amazon. But today, he says, MBA students no longer want anything to do with the corporate world at all.
In my work every day with corporate executives I hear them describe their pain—their burnout, exhaustion and disillusionment and their plans to maneuver their exit from the corporate world as soon as possible.
I believe that,
There is no shortage of talent—just a shortage of places where people WANT to work.
The intake end of the talent pipeline (Millennials and Generation Z) is shrinking. And the other end of the talent pipeline (Boomers) is too, as both seek lives that are a more inspiring alternative to the corporate world.
Add a skewed emphasis on teaching STEM skills in lower education, and quantification skills in business schools—both of which have only a marginal relevance to the development of behaviors and characteristics that lead to building inspiring relationships—and you have a mis-labelled “shortage of talent”.
I’ve been told 100 times by healthcare executives that there is a shortage of nurses in healthcare. I always respond that there is no shortage of nurses—we have probably trained five times as many nurses as we could employ in healthcare. The real problem is that there is a shortage of places where nurses want to work.
In my book, The Bellwether Effect, I describe the eight things we do in business that have caused this disillusionment with the corporate world, and how we can fix it.
What are you doing in your organization to make it so attractive that it becomes a magnet for the talent you wish to attract?