Build Vs Buy: Part 2: HR hires or builds within?

Build Vs Buy: Part 2: HR hires or builds within?

Dear HR, Training and L&D Department, Build vs Buy: Part 2: HR hires or builds within? Question: Does a HR need to hire and build within or buy talent ? A research conducted by Bersin and Bersin, found that some of the highest performing organizations are doing something different: they’re taking a “build vs. buy” approach to critical talent. And finding that “build” often outperforms “buy. For years leaders have grown their companies by issuing the demand “go out and hire someone who knows how to do this!” This approach leads HR departments and hiring managers to retain expensive recruiting firms, spend millions of dollars on recruitment advertising, and often hire expensive sourcers to try to “steal” great talent from competitors. The economy has created a bidding war for people with critical skills, increasing the cost and risk of hiring from the outside. So the economics have now totally shifted: it’s more cost-efficient and far more effective to build critical skills from within YOUR ORGANISATION. So let us start seeking talent, and building capabilities within. Until our next learning article, Happy Learning. TLMM Quote for November 2019: No one from the outside can override the inside, if you are visionary... so START BUILDING!  Regards, Cheryl Lourdes & The MatchMakers We Consult, Match & Screen Best Expert Trainers in Town!  TLMM' recent validation since started in 2010: Award Winner 2015 for Best Background Screening Provider By Human Resource Vendor Award Winner 2017 for HRD Movers and Shakers Best Innovation Practices in Learning and Development Award Winner 2017 for Best Background Screening Provider By Human Resource Vendors