The pace of change in our companies is furious with no sign of stopping. Now, add to this the labor shortage and the disruptions the pandemic caused. The result? It’s more difficult than ever to compete in a tight labor market for the talents you need the most. And it’s hard to retain the talent you have since employees are more mobile than ever. It’s a seller’s market for the most valuable skills.
An alternate strategy to bringing in new talent is to reskill people with skills adjacent to the ones you need. Unfortunately, most companies don’t even know what they have. They do not have an accurate understanding of the numerous hidden skills and talents within their organization.
In an article in a recent issue of The HR Director, I discussed how companies can begin to identify and manage these talents and skills hidden within their organizations. “Think of talent as a capital asset and as a portfolio of investments for the future,” I wrote. “Like a financial portfolio, it needs to be balanced and oriented toward producing value in the future.”
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