As the recession begins to bite, it is going to be vital for organisations to optimise their resources. And surely any organisation’s most valuable resource is its staff.
For example, one option is to use this period to promote young talent rather than take on the cost and risk of recruiting externally, a tactic backed up by Dr Emma Parry’s recent report, Nurturing Talent, published by Cranfield School of Management. Another report from Cranfield suggests that initiatives such as Investors
In People can have a positive impact on financial performance.
In these leaner times it is going to be increasingly important to draw a distinction between financial capital and human capital. Whilst there’s little doubt that finances are restricted, now is not the time to constrain your people. In fact this climate of change offers the perfect opportunity to unleash new talent within your organisation, encourage innovation and allow the next generation of leaders to identify themselves….