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The long-term consequence of failing to invest in employees and their experience, whether that’s new skills, changing attitudes on work/life balance or job flexibility. We are staring down a recession with little clarity and experiencing layoffs seemingly every day which keeps focus in the near term, but larger challenges exist on the horizon. There is a significant talent debt looming, and it has the potential to stymie business growth and hobble innovation for years to come.
Just as financial debt accrues interest over time, a talent debt accumulates as employees lack opportunities to learn, grow, and advance in