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[IWS] Deloiite: THE OPEN TALENT ECONOMY: PEOPLE AND WORK IN A BORDERLESS WORKPLACE [3 July 2013]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
THE OPEN TALENT ECONOMY: PEOPLE AND WORK IN A BORDERLESS WORKPLACE [3 July 2013]
[full-text, 12 pages]
What the open source model did for software, the open talent economy is doing for work. Driven by global megatrends, the employer-employee relationship has undergone a dramatic shift. Talent is no longer a mere business expense, but an asset to be invested in—and measured. Deloitte Consulting LLP’s new report, The Open Talent Economy, lays out a framework to show how organizations can develop a specific talent strategy that is measurable, tied to business results, and refreshed by a feedback-driven cycle of informed improvement.
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 organization)
•Business performance (the measurable business and talent outcomes of the investments an organization has chosen)
The framework also recognizes 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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