Tapping the Hidden Talent in Your Organization

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.”

To realize the full value of this portfolio, you first need to understand the talent you already have. That’s where a skills inventory comes in. A skills inventory is a knowledge base that captures all of the skills, experiences, and expertise your employees have (not just what they use in their role within your company). It then makes these talents accessible to help you execute your business strategy.

A skills inventory enables you to move talent fluidly within an organization to meet strategic priorities. And it helps you build capability for the future by identifying people with talents that are adjacent to the capabilities you need in the future. You can now use this opportunity to reskill your people in the flow of work and avoid the costly labor market as much as possible.

You can read more about tapping the hidden talents in your organization at The HR Director.