Written by: Eric Handler

Talent – To Recruit or Rebuild?

To ensure right-fit talent, leading organizations must become equally good at both.
Savvy employers waste no time hand-wringing over today’s tight talent market – we’re too busy handcrafting training to build employee skills as they go, ensuring employees see a future growth path.

An expanding economy, unprecedented competitive workforce and decades-long mismatch between what education instills and companies need in skills means we are stretched. To succeed we must win the war for external talent and must also win at internal talent-mining.

The problem is, most of us aren’t.

We turn to new hires to remedy skills gaps, sometimes unnecessarily and even unsuccessfully, both of which can leave them worse off in the end.

While we hold strongly that attracting right-fit talent is at times the best or only solution to remain competitive – and that is the Handler strong suit – we also believe it must go hand-in-hand with a right-skills development strategy for existing top talent.

Here’s why: A near-future world workforce analysis says 54 percent of North American employees will require reskilling or upskilling between now and 2022. Stated differently, we can expect core job-skill stability of only 46 percent over the next three years.

That’s a lot of change, at an accelerated pace.

Leaders embracing the monumental skills-shift instinctively understand why the answer to the question, “Recruit talent or rebuild talent” is a resounding “BOTH.”

We can win on the internal and external talent fronts by getting good at both attracting right-fit talent and continually developing it to remain right-fit.

At Handler, our talent expertise can help you determine if a search for new talent is strategically your organization’s next right move.

ADDITIONAL RESOURCE:
Click here to hear how PwC millennial associates are being upskilled and retained…listen for the comment shared at the 3:20 mark in the video to see the impact!