Hi, I came across very interesting topic today, want to know thoughts of you guys. Buying Talent V/s building Talent - Which one you prefer ? regards PD
From India, Pune
5From India, Pune
Both of the spectrum have their own merits and demerits.... Buying Talent is generally preferrable when its a start up company, where a basic talent is brought from outside and then the company is built up by internal training for the long term. It is easier to buy a talent, the difficult part is to aliegn them with the companies vision and values.
Building Talent, is a lot of investment (not only in terms of money, but time and the most import trust and faith in the person). This always helps a company to grow further then its own defined boundries as most people know their career paths and they geneiuenly work towads the achievement. Yes it is time consuming, but with the right culture the company grows leaps and bounds.
My personal opinion Building Talent always is an better alternative than Buying Talent.
Regards,
Ashutosh Thakre
From India, Mumbai
Building Talent, is a lot of investment (not only in terms of money, but time and the most import trust and faith in the person). This always helps a company to grow further then its own defined boundries as most people know their career paths and they geneiuenly work towads the achievement. Yes it is time consuming, but with the right culture the company grows leaps and bounds.
My personal opinion Building Talent always is an better alternative than Buying Talent.
Regards,
Ashutosh Thakre
From India, Mumbai
Building talent - though it need little more time, if the organisations are able to analyse and mentor it in the right way lot of employees can fix this gap.
From India, Madras
From India, Madras
Builiding talent is the best way.
Where the company and employee invest their time and learn new things,both get benefitted.Good companies who have employee loyalty obviously benefit from building talent.
Sometimes due business reasons one may have to buy talent-technology is new/niche area,sudden need for a particular talent etc.
Even in such cases along with the new employee put an old timer so that he can pick up some nuances and be valuable for the company.
Therefore a mix of buying and building talent is necessary to keep the company in good stead.
From India, Pune
Where the company and employee invest their time and learn new things,both get benefitted.Good companies who have employee loyalty obviously benefit from building talent.
Sometimes due business reasons one may have to buy talent-technology is new/niche area,sudden need for a particular talent etc.
Even in such cases along with the new employee put an old timer so that he can pick up some nuances and be valuable for the company.
Therefore a mix of buying and building talent is necessary to keep the company in good stead.
From India, Pune
Hello PD,
While the topic you selected is interesting as well as informative, it would have been better HAD you applied it to your organization & posted as a case-study.
Like Nathrao mentioned, NO....repeat NO....Organization can survive on just one of the 2 options. There will be stages & times when one will have a larger focus with the other option being secondary & vice-versa @ another stage.
And also, both are usually inter-dependent. One can't do without the other to some extent.
Rgds,
TS
From India, Hyderabad
While the topic you selected is interesting as well as informative, it would have been better HAD you applied it to your organization & posted as a case-study.
Like Nathrao mentioned, NO....repeat NO....Organization can survive on just one of the 2 options. There will be stages & times when one will have a larger focus with the other option being secondary & vice-versa @ another stage.
And also, both are usually inter-dependent. One can't do without the other to some extent.
Rgds,
TS
From India, Hyderabad
The views by learned members above have all substance.But there is no one answer to the question. I may cite the analogy of your need for a house. If your need is immediate, buy a ready made house but if you can wait for some time, build a house. Again if you buy a ready made house, you need to accept it as it is and later renovate it according to your needs.Similarly, if you buy a talent, you may not know how far he can fit into the culture of your organisation.Probably he may be put through some orientation programme or mentoring etc initially to mould him to suit your culture.If you want to build a house, you can prepare a plan according to your requirements and then build it the way you want,keeping also in view the future requirements. So is the case with building your talent.internally. In either case, cost is associated with it.Thus your decision to go for either of the two options is dictated by the time,need and money(spending capacity).
B.Saikumar
HR & Labour Law advisor
navi Mumbai
From India, Mumbai
B.Saikumar
HR & Labour Law advisor
navi Mumbai
From India, Mumbai
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