Deployed carefully, these social glues become stronger through the regular exercise of
such attractions. Talent & skills could be magnetized in such ways that it would be hard
to resist not to grab the opportunity of life time. With such strategy, organizations would
not only be able to attain such human resource bank full of skills for their current
prerequisites but at the same time would retain the human reserve for their future
requirements as well.
In today’s aggressive business environment remaining competitive is “top of mind” for
most executives. To remain competitive, you have to hire truly talented people and then
you have to keep them. Turnover is not only costly in terms of replacement expense; it
impacts productivity, and it’s demoralizing to other team members when they see good
people leaving the organization.
The issue of ‘talent management’ was first raised in the mid 90’s (in its current form)
through an article in the Harvard Business Review. The ‘War for Talent’ framed a
competitive marketplace where those companies that could attract and retain the best
‘talent’ would eventually out-perform their competitors.