Open Talent Economy

Valerie Daunt writes:

Talent is no longer a mere business expense, but an asset to be invested in — and measured. The Open Talent Economy introduces a framework to guide talent strategy that brings together three components:

• External influencers (the global megatrends, along with regional and industry trends)
• Talent investments (the strategies, programs, and infrastructure solutions available to an organisation)
• Business performance (the measurable business and talent outcomes of the investments an organisation has chosen)

The framework also recognises that talent strategy isn’t only about your workforce or the mass of available talent, but also about individuals—each at a different stage of their career and lifecycle as an employee. The ways you acquire, develop, reward, and retain these individuals will vary according to the openness of your strategy.

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