Corporate Innovation Management Talent: Practices To Attract, Retain And Develop Growth and Transformation Teams

The practice of acquiring, retaining, and developing talent in the corporate innovation world is still in development.

The approach to corporate innovation talent management is as varied as the strategies and tactics utilized by organizations. It also changes often as innovation agendas and priorities shift more rapidly than most any other functional area. This means talent management becomes a moving target hence the assertion that talent management for innovation, growth, and transformation teams is a moving target.

A short history of talent management in the corporate setting for most functional areas: jobs need to be filled in a specific functional area >> human resources and talent management go the market and seek candidates. Pools of talent are available from a wide variety of sources including industry networks, college campuses (entry level), and executive recruiters, among others. Talent is vetted and secured.

But corporate innovation, growth, and transformation skillsets, in most cases, aren't defined. If they are defined then the required skillsets change often. More often then not, candidates for the most senior innovation roles are chosen for some set of accomplishments that are aligned with the future goals and objectives of the group. Just as often they are chosen for their relationship to another corporate leader,

These shifting priorities make it difficult to attract, retain, and develop talent - but mostly it's difficult to retain and develop.

So what is a corporate innovation leader and the talent management team do when this moving target exists?

One of the first things to do is set benchmarks, goals, and objectives for the innovation and growth agenda that operate within at least a three year time horizon, if not longer. A single innovation agenda takes at least this long to design, craft, develop, and execute. Tactics and approaches might change but the overarching agenda should exist within this three years.

Creating a corporate innovation and growth agenda that spans at least three years will provide stability to attract, retain, and develop talent.