Here’s an interesting article in a recent Wall Street Journal article: “They Ponder Layoffs, But Executives Still Face Gaps in Talent” (subscription may be required). Companies are finding themselves without critical talent, are now trying to hire, yet have frustrated employees that have not been given any career planning or development.

For the amount of time that it takes to identify key positions, fill out job requisitions, search, interview, etc, it seems like a program on internal talent development can be initiated for those same key job roles. Not only would companies have a succession planning process started, but the focus on development and career planning should increase employee engagement. And haven’t we seen where that affects customer satisfaction? We’ve seen that even with our own internal talent management programs.

I like the approach of Robert Mellwig, vice president of human resources at Destination Hotels: “Our approach in the world of hospitality is to have an exerted, directed effort to grow your own from within. We’re trying to prepare individuals for future stretch assignments within the organization under a broader concept of talent management, and succession planning is a really critical piece of that.”