Talent Management

Talent Management Name: Institution: Economic meltdown such the one experienced around 2008-09 have been around for quite some time, to the talent managers it is twice as tasking as it would be to the general public. This is the time that the managers plan to get the most out of the talent that they have in terms efficiency and effectiveness. As such they have to come up with short strategic plans to deal with the recession (HYPERLINK "/blog/Default.aspx"Bersin, 2008). One of the plans that the talent managers can bring on board is the use of interns. These are student from the local colleges and universities, who are much easier to get. Most of them will even work for the experience, which means less economic huddles for the companies (Sisodia, 2009). It is also the best time for the managers to keenly communicate with the staff, on the various strategic plans. Communication at such times brings the staff and the management much closer, giving the staff much more confidence in the company’s commitment to move past the recession. Rewarding the employees, goes along way into improving performance across the board even during the economic uptime. It is important the high achievers in the company are recognized for their efforts to bring the company back around. By using this tactic during the tough economic times, ensures that the staff’s high morale is maintained. This way the company invests in the talent it already has from being outsourced (Frogrecruitment, 2007). Economic downturns are the best times to outsource for new talent in the market. This is because most of the best talents in the market will during this time be looking around for chance to get better placement in their career. Instead of freezing hiring, the company the downturn to their benefit and upgrade the staff base by bringing in new talent from the competitors. During the economic downtimes, there is the likelih...