This week, we calculate the cost of poaching talent vs. upskilling employees, make the case for mental health services at work, and look at how leading companies are creating space for a new generation of employees. We also share how SAP is tapping an unusual talent pool with remarkable success: incarcerated workers. 

This week’s growth quote:

“Becoming isn’t about arriving somewhere or achieving a certain aim. I see it instead as forward motion, a means of evolving, a way to reach continuously toward a better self. The journey doesn’t end.” 

Michelle Obama

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Why Competing For New Talent Is a Mistake

HBR

With eight out of 10 global CEOs telling the World Economic Forum they’re worried about a skills shortage, it can be tempting to lure talent from competitors at all costs. But if you take into account that the average cost to hire is $4,000, and the average being spent on learning and development is only $1,000, training employees is the sustainable (and affordable) answer.

Workplace Stress: The Silent Productivity Killer

TLNT 

Eighty-three percent of Americans suffer from work-related stress. This statistic captures the human toll of workplace pressure and its economic impact. This article will help you get buy-in for mental health initiatives at work. In a nutshell: they’ll help your company attract talent and boost profits.

‘They Outperformed Everyone’: How Training Can Transform an Incarcerated Workforce

HRDrive

To overcome today’s skills gap, employers are considering untapped pools of talent. SAP North America has gone a step further with its hiring of incarcerated workers. Read on to understand the social, economic and practical workings of this approach. 

Preparing for Waves of Retiring Employees

SHRM

With Baby Boomers set to retire en masse, this article outlines which steps companies can take to pre-empt and fill gaps in leadership and skills before they become an issue. Learn how to predict when your employees are likely to retire using data and benefits analyses and create a way to systematically transfer knowledge from one generation to the next.  
If you missed the last recap, read it here: Skills Scarcity 2030, Hiring For Family Firms, and Continuous Listening