Why Human Resource Development is the Key to Corporate Success: From the Era of "Hiring" to the Era of "Nurturing"

In the current climate of recruitment challenges and the rapid obsolescence of skills, SMEs should not solely rely on "buying from outside" but rather focus on a talent portfolio strategy centered around nurturing talent internally. A contribution to Business Matters advocates for a four-pillar approach that benefits both culture and business: (1) transparent career paths, (2) mentoring and leadership development, (3) IDP, and (4) lateral career growth. LinkedIn's 2025 report indicates that companies prioritizing career development have an advantage in internal mobility and engagement, while a UK government review reports a strong link between L&D and retention/well-being. On social media, alongside agreement, practical challenges such as managers "hoarding" talent and systemic barriers are also shared. The optimal solution is a balanced Build/Buy/Borrow strategy. Compare recruitment and development through TCO, and monitor internal mobility rates and skill acquisition numbers. Companies that implement systems for people to grow are the most resilient to change.