History tends to repeat itself. This was particularly apparent
in the wake of the recent economic downturn, when the financial
crisis triggered an almost predictable rise in unemployment rates.
In the scramble to maintain profitability, countless organizations
initiated layoffs, instituted hiring freezes, and otherwise shelved
new projects and investments. Now that the economy is on an
upswing, organizations are refocusing on attracting people with the
skills and capabilities required to help them take advantage of
improving market conditions.
In many ways, this renewed focus simply accelerates a trend that
began several years ago when financial institutions first started
translating advanced talent management theories into tangible
efforts. Since that time, numerous Canadian banks have established
dedicated talent management teams and integrated workforce planning
programs designed to support the organization's short- and
long-term resourcing objectives.
