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  "documentTitle": "The talent challenge: Harnessing the power of human skills in the machine a",
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  "notes": "The slide uses a citation from the Academy of Management Journal to support the argument that voluntary attrition increases after layoffs.",
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      "text": "In this climate, a senior management focus on talent management strategies is not just a \"nice to have.\" It's a necessity.",
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      "text": "voluntary attrition: 31%",
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      "text": "Effective responses to these challenges have been undermined by the economic crisis itself. Senior executives tend to dismiss proactive talent strategies as unnecessary in the current environment. People are so grateful to have a job, the thinking goes, they can be relied on to deliver 100 percent. But the evidence suggests just the opposite. A recent study in the Academy of Management Journal5 demonstrates that in the wake of a layoff, voluntary attrition spikes by as much as 31 percent, and precisely the wrong people — those who have the strongest track records and bright employment prospects even in a recession — are the ones who leave.",
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      "text": "Talent innovation implications: In this climate, a senior management focus on talent management strategies is not just a “nice to have.” It’s a necessity. The immediate challenge for companies is threefold. First, leaders must stem talent leakage during downsizings. Second, they must sustain top talent performance by reinspiring employees and reinvigorating morale. Third, they must take the opportunity presented by this recession to realign talent management strategy with the newly focused business priorities of the company (see “Retaining Top Talent in a Recession,” page 25).",
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