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Equipping Company Managers to Attract, Retain and Employ Human Capital

Salary.com, Inc

Human capital professionals faced the most competitive recruiting market of their careers in the latter half of the 1990s. Subsequently, the U.S. economy started its decline, and they plummeted into the new decade with a rush of layoffs. This article presents strategic initiatives designed to address the recruiting market conditions that have been unfolding over recent decades. The escalating labor shortage that will occur over the next 10 years will be more challenging than the one faced last decade. Strategically minded human capital professionals can prepare for this challenge by equipping managers with the capabilities they need to attract, retain and productively employ human capital. In the tight labor market conditions of the 1990s, the human capital function had the primary responsibility for wielding the talent acquisition toolkit. To maximize the impact their contributions will have going forward, human capital professionals should consider moving strategic human capital initiatives from the back office to frontline management, where the battle for talent is being fought.

Key Words: salary management • incentive pay • performance management • recruitment • labor markets

Compensation & Benefits Review, Vol. 35, No. 3, 20-28 (2003)
DOI: 10.1177/0886368703035003003


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