Preparing for the upturnDamian Williams 26-Mar-2009 Global leaders are taking care to avoid losing talented players during the current downturn in the market, according to research published by Deloitte. Not only do they understand the importance of talent management but they are also taking a proactive approach to hiring experienced leaders.
It’s refreshing to see talent management emerging as a serious strategic player. Taking a broad sweep approach to cutting budgets and jobs won’t benefit organisations in the future. Companies will be at risk if they don’t consider who will be there to drive their organisation forward. Proper planning and processes need to be in place to truly measure employee performance and ensure that top performers and future stars are not only being retained, but are also preparing for the upturn. Training budgets are often the first thing to go during collective company belt-tightening, but without training and investing in expanding employee skill sets – what state will businesses be in when the economy begins to boom once more?
The current climate gives companies the ideal opportunity to examine their procedures, identifying quality gaps and financial waste and invest in their employees.
|