Managing Talent Risk
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Talent Management is one of the most exciting topics in Management, and coincidentally, the same can be said about Risk Management. Additionally, it is worth mentioning that one of the most interesting features of Risk Management is the firm’s ability to attract and retain the most talented individuals. This article tackles this interesting problem by blending both topics into a single framework, and discusses the importance of achieving a superb management of the risk of losing talent in the organizations. The authors combine their knowledge and expertise in both topics and provide a model that helps understanding the basics of managing the risk of not being able to attract and retain the most talented individuals for the organization. The article is grounded on the identification of the likelihood of the person leaving the firm, and the importance of this loss, but moves beyond this discussion analyzing the determinants of the risk of losing talented people in the organization, by studying the causes for the employee’s willingness to leave and the reasons for the importance of this loss. This model allows us a better talent management by helping us identifying the critical variables that we need to control for each category of employee in order to minimize the probability of losing valuable talent in the firm.