In a recent Forbes article, Jerry Cahn posits that there are two approaches to specialized talent: you can identify and cultivate talent internally or else you will have to pay a premium to recruit qualified candidates who hold positions elsewhere. Cahn champions the importance of internal pathways for advancement. He writes, “Since the world keeps changing, the most important talents are the hunger to learn and the desire to apply what is learned. Explore and identify ‘rising stars’ who want to learn technical, social and leadership skills, and apply them to meet the challenges of tomorrow…You may find that the talent your company needs to achieve sustainable long-term growth is already present.”

The reality is that organizations will always need a blend of both approaches. Many institutions default to external hires because they haven’t invested in long-term succession planning. Our team at Hyatt-Fennell can work with your organization to fill the urgent needs of today and plan for the success of tomorrow—and beyond. Reach out today to discuss your institution’s full range of goals.