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ORGANIZATIONS HAVE THE OPTION TO INVEST IN CURRENT EMPLOYEES AND TO "BUILD" TALENT

ORGANIZATIONS HAVE THE OPTION TO INVEST IN CURRENT EMPLOYEES AND TO "BUILD" TALENT

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Author: Christine Farr
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http://theperfecthomework.com/organizations-have-the-option-to-invest-in-current-employees-and-to-build-talent-internally-buy-talent-by-hiring-externally-or/

1) Organizations have the option to invest in current employees and to "build" talent internally, "buy" talent by hiring externally, or "borrow" talent through contract workforce arrangements. Describe one advantage and one disadvantage for each approach. How might an organization's strategy affect which approach it selects? Describe an example in which each approach would be appropriate.
2) Many organizations invest significant resources in recruiting talent but fail to implement a formal strategy to retain talent. Describe the key elements of an effective employee retention program.


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