The McKinsey Quarterly has an interesting article on building a market for talent within an organization. Exec summary:
- Companies that understand the value of talented people… often spend considerable time recruiting such workers but drop the ball in providing them with opportunities to develop and grow.
- In large, hierarchical, and silo-based organizations, managers have difficulty finding talented people for new roles, and employees face barriers trying to find new development opportunities.
- Some progressive companies have set up talent markets where talented people can negotiate job transfers, obtain development opportunities more easily, build networks, and develop intangible assets.
- Talent markets have special characteristics for pricing, protocols, and disclosures. These must be established if the market is to function effectively.