Sunday, July 6, 2025
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

CEO North America > Business > Management & Leadership > Think Expansively and Creatively About Talent

Think Expansively and Creatively About Talent

in Business, Management & Leadership
Think Expansively and Creatively About Talent
Share on LinkedinShare on WhatsApp

Today’s volatility and uncertainty offer lots of reasons for leaders to rethink how they recruit and retain talent.

Most employers have many job openings that they’re unable to fill, and this can have real business consequences—say, products are delayed to market or strategic priorities are put on hold. There are also many pools of talent that are looking for the right fit, as workers’ preferences change faster than jobs are evolving.

While these factors alone should compel companies to revise their hiring and retention strategies, I think the possibility of a recession only heightens the need to be innovative with talent. Companies can no longer rely on traditional (and often unsustainable) one-size-fits-all levers like broad compensation increases. Leaders must move quickly to find or develop candidates with the right skills and experiences to create value in their organizations. They need to break down any walls between talent acquisition, talent development, and the day-to-day factors that drive employee experience. And they need to resist the urge to cut investment in people and HR for short-term savings that will undermine the long-term competitiveness of their organizations.

There are a handful of more innovative and perhaps underutilized levers that could be particularly helpful to leaders in times of economic uncertainty. One is simply better utilizing your existing internal talent.

Sixty percent of the people who leave companies do so because they don’t see opportunities for career advancement with their employer. However, according to research BCG conducted with Revelio labs, only 10% of new roles are filled by internal lateral hires. That’s a big mismatch. A wonderful opportunity is at hand to support more internal mobility of talent, which is especially valuable in times of uncertainty. This involves enabling both upward and lateral mobility, moving people across the organization so that they can develop new skills and experiences.

Another lever is bringing the growing on-demand workforce into your talent strategy. In the past, it has been hard to find full-time hires in areas like data analytics and software coding. There are now hundreds of platforms that aggregate these freelancers, and you can partner with platform providers to build this workforce quickly.

The use of on-demand workers frees a company to explore new initiatives. When you aren’t sure that an evolving area of the business is key to your strategy, you can use freelancers to test the potential of the initiative. You can also use this “fluid talent” when the firm is preparing to launch a new offering. The immediate, rapid feedback from these deployments is so helpful to assess before you invest and build out a full team.

The third lever that leaders should keep in mind is strengthening culture, employee development, and employee engagement—things that can waver in a recessionary environment—to drive retention and activate the latent potential of your workforce.

Courtesy BCG. By Nithya Vaduganathan. Article available here  

Tags: BCGhuman resourcesTalent development

Related Posts

Ford’s Peter Stern joins Peloton as new CEO
Business

Ford’s Peter Stern joins Peloton as new CEO

JP Morgan begins lawsuits against customers
Business

JP Morgan begins lawsuits against customers

Tapestry’s $8.5 billion acquisition of Capri blocked by Judge
Business

Tapestry’s $8.5 billion acquisition of Capri blocked by Judge

McDonald’s E. coli emergency sees Yum Brands and Burger King also remove onions from restaurants
Business

McDonald’s E. coli emergency sees Yum Brands and Burger King also remove onions from restaurants

Fed Governor Bowman sees economy slowing
Business

Federal Reserve releases its Beige Book

Boeing strike continues as Union rejects new offer
Business

Boeing strike continues as Union rejects new offer

American Airlines’ mistreatment of passengers with disabilities earns them a $50 million fine
Business

American Airlines’ mistreatment of passengers with disabilities earns them a $50 million fine

Denny’s will close 150 locations
Business

Denny’s will close 150 locations

Nike renews partnership with NBA and WNBA in “much bigger” deal
Business

Nike renews partnership with NBA and WNBA in “much bigger” deal

Clean energy policies channel dollars to US agricultural sector
Industry

US Farmers are harvesting at a record pace

No Result
View All Result

Recent Posts

  • What makes the Royal Edinburgh Military Tattoo so special?
  • Beyond the Machine: Why Human-Made Art Matters More in the Age of AI
  • 7 Benefits of High Intensity Interval Training
  • Paramount CEO explains why company paid Trump millions in 60 Minutes settlement
  • SAS CEO announces Air France–KLM to become majority owner

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

  • News
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

CEO North America © 2024 - Sitemap

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.