Compare pros and cons of developing talent in-house versus soliciting outside talent.

Pros of developing talent from inside are that it promotes employee morale because hiring is quicker because the candidate is already an employee. The candidate is also familiar with the operation of the business hence the training process is quicker; the transition is also smoother than soliciting from outside. This makes all the other employee feel there is career opportunity in the business hence boosting productivity (Rothwell, 2003). Developing talent from inside is better because the employer can trust the candidate. He is a known commodity because the organization is familiar with him. The employee has already established a relationship with the company’s employee, and his weakness and strengths are known. The cost of soliciting from outside is more hire because of advertisement cost and takes a lot of time as compared to developing talent in-house. Soliciting from outside bring on bond experience because it means access to a larger and more diverse talent pool, it also gives a company a fresh start compared to developing talent from inside which can lead to the company getting under qualified candidate. Developing talent from in-house can lead to narrowing ideas because no new ideas and concepts have been injected in the company as compared by soliciting from outside which brings instant talent for new products, programs, and skills.

References

Rothwell, William J., and H. C. Kazanas. The strategic development of talent. Human Resource Development, 2003.