The employee transfer market

Taking a cue from the football leagues transfer market, why can’t we have an employee transfer market for comparable businesses? Today an employee quits from one firm and joins the other. The parent company doesn’t benefit at all from this transaction. The maximum it does make is the notice period buyout which isn’t commensurate with the value in terms of currency the exiting employee can potentially create in a new firm. The exiting employee can make a fair bounty at the new place of work but the parent company is only at a loss.

Attrition is a huge problem in today’s world. Companies struggle especially with the loss of their A+ rated talent. Instead of fighting this talent exit war in a futile manner why not benefit from it? If you have a Ronaldo in your team shouldn’t your company earn 80 million pounds? Why don’t you make some money out of your attrition?

There are a lot of details that need to be worked out here. Ronaldo has Jorge Mendes as an agent and so does most of the expensive names in football and he decides the market. That may not be the case with employees considering the sheer number in all industries. Then there is the legal angle. It might just change the way we look at recruitment in the future. But if we do consider some hot skills some companies do exceedingly well in making stars and lose them to companies that can pay better. It is time these companies benefited.

This is food for thought!

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