In the manufacturing and industrial ages, organizations were measured by physical asset value. In the talent age, higher value is placed on knowledge and innovation ” a shift from bricks to brains. If knowledge is king, then the risks a company faces are primarily talent related. You can call the symptoms brain drain, knowledge loss, or revolving door syndrome due to the nomadic career hunting of Generation Y. But they are all conditions that can be treated with a sharper focus on talent management.

The Boston Consulting Groups Opportunities for Action article Hidden Talent discusses the impact of transitions on an organizations collective knowledge pool. These mass talent transitions can be driven by business events that happen in a month or demographic trends that take years to run their course. They include downsizings, mergers, and baby boomer retirements.

In any case, you need to be ready in advance with a clear strategy, workforce mobility tools, and a system of record to build your world-class talent factory for a higher level of business performance.