The McKinsey Quarterly Chart Focus Newsletter
October 2006 | Member Edition

A better way to manage talent
The war for talent doesnstr_749_’str_749_t stop when employees are hired; many managers at large companies find their productivity stifled because they canstr_749_’str_749_t find qualified people to train and promote within their own organizations. The culprits: traditional hierarchical mind-sets, which treat talent as "corporate property," and HR departments that chart career paths solely within organizational silos. A few companies are leading the way to a better future by creating formal talent marketplaces that encourage employees to find the best opportunities for themselves.

Such a marketplace helps a company not only to offer more people more opportunities but also to share talent across the whole organization by posting all vacancies and creating competition across a range of candidates and jobs. For more on how talent markets work and which employees they help most, read "Making a market in talent" (2006 Number 2).