There is a natural proclivity to reduce the organization’s investment in talent management strategies during tough economic times. That approach can have serious competitive consequences.

Human Resources (HR) executives participate in a strategic process responsible for ensuring the right people for available jobs are found and placed, and that the workforce has the right opportunities to develop skills and full capabilities. The implication is that the business is committed to integrating talent management into its operations and provides the resources necessary to follow through on that commitment. During tough economic times, the unfortunate fact is that many of the very activities ensuring a business will remain competitive in the future are the first ones that experience cutbacks – recruitment, training and development, networking events, mentoring programs, and so on.

In truth, the tough economic times have proven that Human Resources must be a strategic functi...

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