If you can't find great talent, why not develop it?
Despite high levels of unemployment, companies are finding it hard to get good people on the job market. Perhaps developing existing personnel into those roles is the better longer term answer.
Existing personnel are more of a known quantity and have history of the company’s culture, market and product knowledge. To develop into their next role, they need support from their managers and typically benefit from external training and development companies that help to short circuit the on-the-job learning. External development companies also bring fresh thinking and new approaches to enhance their existing knowledge.
I am sure that larger organisations have the resources to do this but perhaps the answer is for small to medium organisations to set up mini academies or training programmes to develop their top talent into the next roles.
Using a blend of internal and external training resources is the quickest way to gain productivity gains in the short term and ensuring that they “stick” for the long term.
This would not only reduce the
pain of future recruitment processes but also act as a way of retaining great
staff. Diverting recruitment budget into this kind of scheme in most cases would
offer significant cost reductions in the long term.
Great business is all about great talent, so if it is hard to find great talent, why not develop it.
What are the succession plans for your organisation?