Talent management the key to success in the world post-GFR
In this guest posting, C&M Travel Recruitment Director Melissa Schembri considers the importance of talent management as the global economy emerges from recession.
With tentative signs of economic recovery, we can all be a little more positive about the immediate and longer term outlook.
With any upturn in confidence and opportunity, businesses need to look closely at their talent management policies to ensure they can attract and retain the quality individuals their businesses will need going forward.
Over the last 12 months, talent attraction and retention is not likely to have been anywhere near the top of most people’s priorities. Unfortunately, it will likely have been quite the opposite, with lay-offs and redundancies high up the list as businesses looked to slash costs and head count.
Smart businesses will now begin to look forward and staffing will have to become a key focus again. Many companies may have not had any significant attrition issues over the last year or so as people will just have been delighted to keep their jobs, irrespective of how happy they were at a work.
As things improve, we will see staff looking at how their employers handled the key moments during downturn and in particular how they dealt with any staffing reductions.
If companies were seen to have handled the situation poorly they may have damaged confidence and loyalty in those left behind and will need to work hard now at keeping their key talent happy and focused.
People have long memories and, as more job opportunities come to market, they will look to move if they are not convinced about the company they are working for.
Due to the job losses we have seen there is a lot more talent available and looking for work now. It is possible to find some high quality talent that normally you would not have been able to attract. So this is a key time in planning head count requirements for your future business plans and to hire if you are in a position to do so.
If the economy continues to show improvement and we can at last confidently say we are through the worst, the months coming out of recession will be key for those with the strategy, focus and application to out-perform their competitors.
The quality of your people and their morale will be a key factor in ensuring your business is one of the winners. Now is the time to look seriously at your talent management policies, both with retention and attraction, and ensure they are as strong as they can be.
If they are not, you run the risk of losing your current and future key people to your competitors.
http://candmrecruitment.com.au
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