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The Implications of Growth on Talent Management
Date:2010-08-19Author:Anne-Marie KontakosCategory:Talent Management Source:Cornell University Keyword:Talent Management
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ort their growth agenda. One company’s loss is another’s gain and the external market forces described above will act as the strongest barrier to key talent acquisition and retention. There is no silver-bullet solution to win this competition. Deloitte Research (2004) identified a useful structure in which to think about the talent management challenge. HR is not responsible simply for the attraction and retention of top talent, but rather all of the pieces of the talent management value chain including developing and deploying talent. 

Develop-Deploy-Connect Model

Deloitte’s model suggests that companies not focus solely on acquiring and retaining talent, but rather support their key talent in doing work that engages them, teaches them how to do it better, allows them to encounter fresh challenges and supports them in interacting with people in positive ways.

Too much time is spent on the front and back end of the talent management process, as the typical US company spends nearly 50 times more to recruit a $100,000 professional than it will invest in his/her annual training after he comes aboard. Many organizations ignore employees once they have been recruited into an organization. However, companies cannot afford to continue heavy recruiting and last minute retention strategies to manage the growth demands of the business. Employees need opportunities for redeployment and flexibility to try new roles. Connecting employees through informal networks is useful for improving the quality of work as well as employee commitment to the employer. Lastly, Deloitte suggests that the first step in building talent is to identify the critical jobs and skills that will drive future growth. Before engaging in the upcom

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