Building a talent market within an organization

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.

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