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Job poaching grows popular
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September 19, 1997: 6:26 p.m. ET
In tight labor market, employees are lured from company to company
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NEW YORK (CNNfn) - As the U.S. labor market gets tighter, companies are fighting harder than ever to attract talented staff. Poaching employees from a crosstown competitor has become one of the latest strategies.
Headhunters, who lure workers from one firm to another, say business is booming, as firms from Wall Street to Silicon Valley compete for a limited pool of talent.
Often, recruiting agencies target workers who are not even looking to change jobs, preferring those that are successful and content.
"I try to... encourage them to at least look at this situation," said Executive Recruiter Barry Nathanson. "I can be pretty aggressive." (137K WAV) or (137K AIFF)
Talented staffers can be bombarded with calls regarding prospective employers.
Some companies are fighting back. Software- maker Borland International just settled a suit it filed against Microsoft earlier this year for luring away more than 30 employees. Others, like Sun Microsystems and Hewlett Packard, have hired consultants to teach them how to hang on to their workers.
"There is a myth out there that attrition is inevitable and there is always somebody available to fill a job," said Integral Training Systems President & CEO Lynn Ware. "That is not necessarily true." (94K WAV) or (94K AIFF)
Poaching is particularly rampant in fields of technology, finance and telecommunications.
"The message to corporations is that if you've got them, work to keep them," said Ware.
Many big companies do not track the numbers of people who leave and are not aware they are experiencing brain drain.
Consultants say managers can help by encouraging, valuing and talking to staff and supporting employees' career goals.
Companies that pay attention to retention save the costs of replacing key employees later.
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