Spare a thought for the recruitment team at Yahoo, faced with the nightmarish task of having to rebuild its  talent pool overnight. Even global marquee brands, an Internet stalwart in this case, aren’t immune to the scourge of attrition.

In Australia the national attrition rate is around 18.5% (40.3% in the accommodation and food service sector.), and a study by AHRI estimated the cost to organisations to be around $20 Billion annually.

Now, that’s a lot of money which ought to be put to better use.  Maybe it’s time to call the Chief Happiness Officer.

A range of recent news touching on the subject of ‘talent’ shortage.

• 28 weeks parental leave sought, as a way to address skills shortage , by the Association of Professional Engineers, Scientists and Managers Australia (APESMA).
• Acerbated by the twin problem of high staff turnover (29% in Victoria)  and limited supply of new graduates (2641 university-educated early childhood teachers required by 2012), skills shortage crisis hits the Childcare industry.
• 40% of workers in the rail industry to be replaced in the next five years. Acute skills shortage to follow, says Australasian Railway Association (ARA)
• Young Australian women flock to work in farms, as a result of men leaving for more lucrative mining jobs, reports BBC.
• Pilot training standardised to address skills shortage in the aviation industry.
• Tourism industry worried about the impending skills shortage.
• $30 billion might head overseas if skills shortage not tackled in South Australia
• Sutherland Shire Council council turns to VIDEO to attract U-tube generation and tackle the skills shortage.
• Michael Page reports on the hiring intentions for the next 12 months. Bullish on white-collar employment. But, overall job growth tipped to slow down by the Melbourne Institute.
• McKinsey latest economic and Hiring outlook (registration required) looks at the latest economic pulse around the globe. Hiring intentions not as buoyant compared to six months ago.

While demand for talent fluctuates in the short-term, the overriding long-term issue for companies, and the country, is ’skills shortage’. Few industries seems to be immune.