Predictive Data Analytics
Rapidly Transforming Business
2014 looks to be an exciting and critically important year for the Analytics market.
The overall economy is growing and Analytics demand is rapidly expanding. But new critical talent will be in short supply, plus with the market forecast on the upswing your existing employees will feel empowered and poised for making career changes. With the need of having the right people in your business becoming more important than ever this foreshadows the escalating staffing challenges that are unfolding,
As Data Analytics enters a new era of growth and the demand for applications expand across multiple markets – it is clear that having the right talent will be the fuel for this growth. This anticipated growth will create a new level of competition for people within this industry. That talent is already very scarce and is about to get worse.
The winning companies will be those that can find, retain and develop critical professionals in a hyper-demand market.
Looming Staffing Challenges
For the first time in nearly a decade, this year you will find the issues of retention, engagement, and “attraction of talent” to be top on your priority list.
A recent McKinsey Global Institute report forecasts a 50% to 60% gap between the supply and demand of people with analytics skills and experience. Their study projects that there will be approximately a 140,000 to 190,000 unfilled positions of data analytics experts in the U.S. by 2018 and a shortage of analysts and management with necessary background to use Big Data. This gap is already evident; the jobs site Glassdoor.com currently lists 17,699 openings in Analytics related positions.
Compounding the challenges of recruiting for growth will be the challenge of retaining your existing people
This year, for the first time in more than five years, employees are in charge. Companies have reduced costs, restructured, rationalized spending, and pushed people to work harder than ever. However, this year the power will shift: high-performing employees will be feeling more empowered than ever – whether they are seeking more satisfying careers, looking to advance within their organizations or making job changes to expand their skill sets and professional accomplishments.
Top people with key technical and business skills will be in short supply, and mid-level staff will strive for leadership development.
In a recent labor report conducted last fall of U.S. and Canadian employees 83 percent admitted they will look for a job in 2014. In addition, 12 percent were unsure but admitted to networking and updating their resume; only 5 percent plan to stay in their current position. Therefore, buoyed by the improving conditions in the labor market, many workers will be looking for other opportunities this year.
Success will require that you deal with these challenges, and will necessitate highly focused, experienced, and sophisticated recruiting expertise to out maneuver your competition for the people you need.
Here are the Symptoms to Watch Out for
These challenges should signal a wake-up call for top management, when four out of five employees say they intend to look for employment elsewhere, since this will create a two pronged challenge – companies will be faced with increased competition to hire new talent and will be challenged with replacing lost staff.
Here are the symptoms to watch for
- Difficulty attracting candidates
- Losing offers
- Losing existing staff to competitors (90% of candidates claim they are looking )
How we can help
At Talent Partners, we work very closely with the Analytics Groups within the Big 6 Consultancies and extensively within the top 15. We also concentrate on serving the leading technology development companies as well as some of the ‘hottest’ high growth firms in the market.
They use Talent Partners to successfully fill critical positions in Predictive Analytics across the most in- demand specialty areas, including:
- Banking and Financial Services
- Health Care and Life Sciences
- Web Analytics
- Retail: Consumer and Marketing Analytics
Our Proof of Success Can Be Seen In Our Performance Numbers:
- 96% success rate in delivering the finalist on any engaged search.
- Average time to deliver our candidate short list is 21 days.
Talent Partners’ Sweet Spot
We are highly effective in sourcing in situations such as:
- Business critical / Hire priority hires
- Difficult to full positions
- Where corporate circumstances present recruiting challenges
- Multiple staff openings
What Do We Do:
- Talent Partners specializes in Senior Manager, Director and VP level direct hires of advanced and predictive analytics placements.
- For example, we have successful sourced exceptionally skilled people into critical roles requiring more than ten years experience in Advanced Analytics in additional to them also having fifteen to twenty years experience as subject matter domain experts.
Contact us and let us tell you how we’re partnering with other leading companies in this market – including some of your competitors to overcome these challenge
2014 looks to be an exciting and high potential growth year for Analytics. But realizing the grow will require dealing with challenges since talent will be in short supply, existing employees will be poised for change, and the role of having the right people in your business will be more important than ever.
Gary MacDonald is Principal Partner at Talent Partners– Engaged Executive Search. Previously Gary was CEO and Managing Director of GBS Enterprises Inc., a publicly traded company, VP at Raydiance Inc. and SVP at Kingston Technology. Gary can be reached at 617 . 651 .0480