Who will Win the Talent War?
I recently read a blog entry written by Michael Watkins of the Harvard Business Review entitled “In the Talent War, the Ceasefire is Over“, and was inspired to at least start a broad based discussion on the topic.
Anyone, who has the courage to open up a news paper, or flip the channel to the local or national media outlets can tell you that the economy is downright bleak at best. With the massive layoffs, downsizing, rightsizing, pay reductions, pay freezes, hour reductions, or whatever labor cost reductions are called these days comes an inherent risk – the risk that top talent is going to leave for the competition when things improve.
I definitely agree that talent acquisition and retention is an immediate concern; however, for most organizations it is probably not the highest of priorities on the list.
With that I ask….
What can organizations do to improve talent acquisition, retention, and development as the economy begins to exit this exhaustive recession?