May 17, 2024

Agile Talent: How to Source and Manage Outside Experts

by Our content team
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Transcript

Welcome to the latest episode of Book Insights, from Mind Tools. I'm Cathy Faulkner.

In today's podcast, lasting around 15 minutes, we're looking at "Agile Talent: How to Source and Manage Outside Experts," by Jon Younger and Norm Smallwood. This book explores the role of external contractors working in organizations, and gives guidance on how to make these relationships work.

In today's fast-paced and competitive business world, organizations are increasingly buying in external expertise. The authors of the book have conducted extensive research that suggests this trend will continue, as companies search for innovative ways to grow while keeping costs down.

When an organization doesn't have the skills it needs for a particular project, it often makes sense to buy in that expertise, rather than hire a fulltime employee. For instance, insurance companies Munich Re and AIG regularly use external meteorological experts for short periods of time, to help factor weather into their assessment of risk.

The pressure to stay at the cutting edge means external experts like these are a valuable resource. Companies get the benefit of top people, without the cost of having them permanently on their payroll.

This use of outside talent is dramatically affecting the role of leaders. In addition to managing internal staff, leaders need to attract and maintain an external workforce of temporary contractors. At the same time, leaders need to make sure their permanent workforce collaborates fully with outsiders, rather than seeing them as a threat.

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