Talent Management: A Critical Imperative in the Face of Resource Scarcity in the Investment Casting Industry
by Carlos Olabe, Executive Director, European Investment Casters’ Federation T
he investment casting industry, like many
other sectors, has
been significantly impacted by the global human resources shortfall, a situation exacerbated by the recent pandemic.
This crisis has underscored the urgent need for comprehensive Talent Lifecycle Management (TLM) strategies within foundry companies. TLM encompasses a range of activities designed to attract, engage, retain, and
develop talent, 14 ❘ July 2024 ® ensuring
advantage even in challenging times. This article explores the critical aspects of TLM, focusing on its importance in attracting new talent, engaging and retaining existing employees, succession planning, and effective exit management.
Attracting New Talent
In the post-pandemic landscape, attracting new talent has become increasingly challenging.
The that
organizations can sustain their operations and maintain competitive
investment casting industry, with its specialized skill requirements, faces a particularly steep uphill battle. To address this, companies must adopt
innovative recruitment strategies that go beyond traditional methods.
1. Employer Branding: Developing a strong employer brand is crucial. This involves showcasing the company’s culture, values, and career development opportunities. A compelling employer brand can attract top talent by presenting the organization as a desirable place to work.
2. Digital
Recruitment: Leveraging digital platforms and social media for
recruitment can widen the
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