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The war to keep top talent remains a priority for most organisations

We like this article we found in The Grapvine Magazine and thought you might too.

A new piece of research published by the Chartered Institute for Personnel and Development (CIPD) has discovered that despite the economic crisis 74% of employers have not changed their talent strategy.

705 employers were involved in the research, and only 26% have revisited and changed their talent strategy as a result of the current economic crisis. Nearly one in five (18%) are actually placing more emphasis on identifying, developing and retaining talent.

Claire McCartney, Organisation and Resourcing Adviser at the CIPD says: “It is essential that organisations avoid knee-jerk reactions and cost-cutting in the very areas that will make the biggest difference. Now is not the time to halt employee development nor is it the time to postpone or scale back talent management strategies. However, more cost effective solutions need to be found as return on investment will come under greater scrutiny.

“Managing, developing and motivating talented employees is even more important because it is the one thing that can differentiate organisations and ensure that they not only survive the short-term but thrive in the long term.”

McCartney adds that: “It’s essential that organisations support and empower managers to manage and motivate employees in a downturn. Organisations need to change this mindset if talent strategies are to thrive in this downturn.”

24 February 2009