The best businesses prudently invest time and energy in their financial capital. Successful businesses also spend the same amount of rigor on their human capital, especially since it is the largest expense in most companies.
One practice is strategic workforce planning: identify what you have, what you need, and build an action plan for the future. The 7 Bs of Talent Management are a tried-and-true approach:
Build - develop your existing people to reach the next level
Borrow - hire contractors and consultants to accomplish goals
Buy - invest in hiring and empowering(!) outside talent
Bind - employ effective retention strategies
Boost - stretch assignments or promotions of your top talent
Bounce - some attrition is good - help people find new roles
Bots - technology to augment humans, an emerging field
We work with business leaders from all sectors to strategically assess their business and their current and future workforce needs.
Chris Duffy leads Amplify Leadership Partners, a leadership consulting and coaching firm with expertise in retaining and motivating talent to achieve organizational success. He received his master's in Organizational Psychology with a specialization in Change Management from Columbia University. Chris is based in Connecticut and works with clients nationwide. He's passionate about discussing challenges, so feel free to schedule time.