Talent wars are highly cyclical. The software/technology world is one of the few that manages to remain somewhat even-keeled, but it is by no means immune. Assuming we are in a valuation bubble the People repercussions of a pop will be interesting to say the least.
How top executives feel about HR pretty reliably reflects what’s going on in the U.S. economy. When the economy is down and the labor market is slack, they see HR as a nuisance. But sentiments change when labor tightens up and HR practices become essential to companies’ immediate success.1
Great article by Peter Cappelli writing for HBR.