This report from the Chartered Institute of Personnel and Management explores the different ways in which organisations are finding creative solutions to talent management in the recession. Most organizations surveyed were in the private sector, but the findings will become increasingly important in the public sector as budget cuts start to bite.
The research demonstrated conclusively that ‘necessity is the mother of invention’. The pressures created by the recession helped people to look at situations in different ways and to develop innovative solutions. Management of talent became a crucial issue and the result was a wide range of innovative ideas and practices that were developed to meet the challenge of engaging, developing and retaining talent when purse strings have been tightened.
These practices included building employer brand and profile, providing critical training to develop key talent and developing innovative business suggestions through internal talent pools and leadership exchange groups.
The case studies demonstrate that efforts to up the ante on engagement and development in creative new ways are paying off. Employee engagement, particularly for those identified as talent, has increased partly due to the intensified focus on talent performance, engagement and retention, but also because many employees are working on higher profile projects and thereby increasing their visibility with senior management.
FIGHTING BACK THROUGH TALENT INNOVATION is available from CIPD http://www.cipd.co.uk/subjects/recruitmen/general/_war-on-talent.htm