Wall Street Journal (12/27/10) Lublin, Joann
Management adviser Ram Charan says CEOs should act now to prevent defections of key employees in 2011. Some companies already are bolstering their retention efforts despite the still-weak job market, but Charan says most employers are not doing enough, and face certain talent losses as the economy improves. Chief executives “do not really put even 15 percent of their time into the people-development equation, and that’s far less than needed,” according to Charan. He adds that “the biggest risk is top management not knowing explicitly whom they depend on lower in the organization for success. CEOs like Apple’s Steve Jobs have figured out how to have more people working together despite corporate ‘silos.” That is central to winning in the marketplace.”
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Companies are not doing enough people development to avoid significant talent losses when the economy turns. Moreover, social collaboration in the workplace is a necessity for innovation and creativity.