Down Economy Offers Upside Opportunities

Talent management has risen to the forefront as a central issue for today's organizations worldwide and established itself as a key business strategy in any economic season. Regardless of market conditions, companies need to hire and manage their talent to fill positions and manage performance. Even in recessionary times, history has shown that gross job creation does not significantly decrease. Successful talent management strategies deliver the twin benefits of lowered costs and increased productivity-which are especially welcome in a constrained business climate.

Executives Know Talent is the Winning Strategy

Executives are increasingly realizing-and appreciating-the positive impact of successful talent strategies and practices on the organization. A recent Accenture survey of more than 850 top executives found that two-thirds put the inability to attract and retain the best talent second only behind competition as the key threat to business success. Another study found that an overwhelming majority believe that talent has an impact on profitability, a significant effect on customer satisfaction, and drives innovation and new product development.