Our industry is facing an era of ‘talent squeeze’, and we all need to be ready for the challenge.
A hot topic for our members
Throughout 2022, the talent squeeze felt by LEA Global member firms was a hot topic at conferences, group calls, and member visits. Although we can see some signs that the significant salary increase requirements are starting to mellow a bit, the absence of people continues to challenge our members. If LEA Global had the ability to clone people (especially in the 4-8-year range of experience) we could have a new member waiting list as long as coveted season tickets for European and US football teams (of course, two different kinds of football).
Regulators, clients, and people are also becoming more demanding, and our long-held expertise model is being challenged. A new model, that retains core elements of the expertise model, is emerging. We need to be ready to deliver solutions regardless of whether we have the capabilities or not. We need to continue to be experts and become good curators of solutions and services.
An opportunity to create and innovate
Our industry will continue to face talent challenges in 2023. However, it’s not without opportunities. A crisis or significant disruption can spur creativity and innovation, both big and small. We are hearing from members who are exploring alternatives that may not be new to the profession. However, they are new and creative to them.
Going forward, we need to continue to identify, pursue, and implement multiple solutions to challenges across talent acquisition, development, and loan.
Collaborate to get ahead
This newsletter gives you insight into how LEA Global collaborates with member firms to develop talent. It also highlights solutions that members are pursuing themselves. We hope you are inspired by firms that develop creative solutions together and encourage you to challenge yourself to consider what you can do differently.
Talent will remain a key focus area for us in 2023. We invite you to take part in our collaborations and continue to share your ideas and innovations. Members of LEA Global have a strong culture of working together. Being part of our community means you have taken a great step forward to help build solutions to the talent squeeze.
We hope next year begins with hope and optimism and that the future of our global community is bright indeed.
Thank you for your support, as always.
Tony Szczepaniak, CEO, LEA Global