Written By Andrew Slade
Do you feel stuck in your position at work? Hungry for more but not being given the opportunity? You might be one of the many victims of “talent hoarding”—when managers do not promote or transfer their top talent to keep from losing them.
The Wall Street Journal recently reported a survey from the Institute for Corporate Productivity showing that half of the 665 employers polled harbor talent-hoarding managers. And among the lower-performing employers in the survey, 74% have talent-hoarding managers.
The Institute’s lead researcher suggests that the issue persists because managers are rarely rewarded for moving individuals, but rather for the performance of their teams.
And the dangers of talent hoarding are real. It creates a shortage of skills; crippling growth, stunting business development, and causing key players to leave the company. Executives and Human Resource officers are calling it one of biggest management problems faced today.
So how can you combat a talent-hoarding manager? Honestly, there’s not a whole lot you can actually do to fight it internally. You can search through the company’s policies and potentially go to HR, and if that’s unsuccessful, you can try to be transparent with your boss. But at high performing companies, managers are actually rewarded for moving high potential talent through the company. So if that’s not the case where you currently work, and it’s been a reoccurring problem, it’s probably time for a change.
Here’s what we suggest: keeping your CV and LinkedIn profile up to date, keeping in touch with executive search firms, and keeping your eyes open for advertised opportunities.