Why Talent Management Investments Generate Poor Returns and What to Do About It: The Recruitment Problem
“Find us someone who will be ready for a VP job in 12-18 months but who is prepared to come in and prove it.” Those in the recruitment business will recognize this request as a growing trend. As demographics kick in and retirements loom, organizations find themselves with talent holes and a lack of ideal internal candidates to fill them. Asking recruiters to find and secure high potential talent willing to make a job change on the possibility of bigger things to come is certainly ambitious. And unlikely to be successful as a talent building strategy.
Why recruiting high potential talent works better in theory than in practice
When organizations have the opportunity to go outside for talent, they take it very seriously. The goal is, always, not only to attract the best possible candidate for a role but to increase the talent pool. Then reality sets in:
Strategies to increase your odds of success
For many organizations, the necessity of using external recruitment to bolster the talent pipeline is a reality. Here are a couple of suggestions to make this a more successful endeavour.
Stay tuned for my next article Talent on Board: How Traditional Board Recruitment Practices Help to Maintain the Status Quo.
The Risky Business of Hiring Stars (Harvard Business Review, May, 2004).