Abstract for: On the competition for highly skilled workers in a scarcity-driven context
In this paper we explore the relationship of the competition for scarcely available highly skilled workers in an industry that is poised with transformation. We explore the industry transformation pressure causal relationship that leads to companies seeking to fund their transformation programs, eventually opening positions to hire highly skilled workers that aren't readily available. This dynamic puts immense pressure not only on the overall compensation but on the industry performance as a whole given draining of talent because of the high turnover in the companies of the industry, further diluting the efforts of highly skilled workers and increasing management pressure to deliver the expected performance. Finally, we explore two policies and their consequences in this system: increasing the funds obtained to better compete for highly skilled workers in this scarcity-driven context, and a second policy that aims to jointly fund educational programs among the companies inside an industry to increase the overall availability of workers in the market.