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Overview:

As companies think about leveraging talent pools — leadership and otherwise — to win the war on talent in the mid-market, it is important to consider one key question: "Are you prepared, as an HR practitioner and as an organization, for the biggest business challenge of the 21^st Century?"

Frank Horvath, Principal Consultant at The Newman Group, says the labor market is changing in ways that business cannot ignore. However, there are practical and effective ways to minimize the impact of the impending talent shortfall. Creating a game plan involves five vital steps:

1. Assess and identify critical skills
2. Identify talent pools
3. Establish performance accountabilities
4. Implement robust learning and development
5. Require talent reviews