Chicago Sun-Times (09/13/10) Knowles, Francine
A recent survey by Towers Watson found that employers are concerned about middle-management downsizing over the long term. Sixty-two percent of companies said they were worried about the readiness of talent in critical roles; 60 percent cited the need for increased investment to create an internal pipeline of talent; and 51 percent said they need to provide more opportunities for the movement, rotation, and development of talent. “There has definitely been a shrinkage of available talent for the pipeline because there’s a thinner and smaller talent pool,” asserts Jackie Greaner, North American practice leader for talent management at Towers Watson. She adds that as people get promoted to more demanding jobs, it becomes harder to ensure that people are prepared to handle their new roles. Companies are now attempting to form talent pools of high-potential leaders with a wider range of skills using technology, says Greaner. Companies also are providing development opportunities via job assignments and special projects to build the capabilities of individuals in the pipeline, she says. Greaner warns that if companies are “not managing and monitoring their talent pipeline, then they’re going to be hampered in their ability to grow and or maintain business performance because they won’t have people to fill those critical jobs in the future.”
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A recent report from the Bureau of Labor Statistics said that there are 3.5 million jobs unfilled in the US in this, the greatest recession in modern times. The 11 million unemployed do not posess the skills necessary for these jobs. The same can be said for corporations who are not providing employee development and management training courses to their talent pool. Successful organizations recognize that talent development is a continuous process.