The Treatment of Talent
Author: Jason Watson
As a proud father of three young, aspiring professionals, I struggle to see why certain businesses tend to hire to requirement rather than develop talent. In recent, tough times, I’ve seen a significant reduction in spend on talent development.
However, I’m beginning to see a shift in mindset brought on by global labour crunches and a significant shortage in skilled employees.
The FT recently published some interesting statistics that helped me to validate the trends we have seen in this article. Of course, this is an extension of the long tail of post-pandemic consequence and relates back to the Forbes 2021 article Why U.S. Talent Shortages Are At A 10-Year High - forewarning the rest of the world as the US began to slow an inflation rise at the end of 2021, due to talent retention issues and a lack of skilled replacements available in the market.
Fewer businesses are thinking they can solve the issue with increased wages, finally turning to training their existing staff. Investment is heading to development agendas once again.
Engaging with these customers, we are finding everyone in a hurry to develop “training”, though few really take the time to understand the current state of their staff base. We find companies trying to sheep dip large cohorts through the same content, irrespective of whether they need it, and ‘hope’ the right result will fall out of the other end.
We are advising our customers to slow down to get the right result - that will ultimately work faster than the one size fits all approach. We have even digitalised the objective collection of current behaviours to provide the data, and simplified the presentation. This enables managers to see those in their teams who are best fit, misplaced talent or high potential, and treat them as individuals with different career goals and with development pathways.
If this sounds like something that could help your business, book a consultation or platform demonstration with us.