Organizations can work to foster existing talent.
Every HR department understands the role that onboarding plays in ensuring a new hire is brought up to speed with the goals of the organization, and how the role they have been hired for specifically fits into that picture. In fact, this blog recently discussed why onboarding is a critical component to the success of the new hire, and the company as a whole.
However, there's an extension of this concept that some businesses are beginning to implement. A recent Forbes article discusses how "inboarding" is a way for companies to retain valuable talent. Forbes contributors David Sturt and Todd Nordstrom cite a statistic from the Center for Creative Leadership that suggests that during the first 90 days of employment, as many as 40 percent of senior executives quit, fail or otherwise lose their position.
For HR, which is tasked with making critical decisions about hiring and retention, this statistic may be frightening. However, Sturt and Nordstrom explain how the "inboarding" process can help make employees more successful. What exactly is meant by inboarding? Instead of hiring outside talent, organizations can foster existing talent and "help their existing employees improve their necessary knowledge, skills, behaviors and attitude to grow within their own organization." Since organizations are constantly changing, this approach allows current talent to take advantage of new opportunities as they arise.
This does not mean that HR should completely lose focus on outside talent, but this approach is worth noting. HR departments can turn to a reliable HR system to assist in making key hiring decisions, whether workers are being recruited from elsewhere or being promoted from within.