These so called “Talent Management Systems” broadly have the following components: (a)  Recruitment  (b)  On-boarding / Induction  (c)  Training and Development  (d)  Performance Management  (e)  Succession Planning  (f)  Employee Retention Initiatives and finally;  (g)  Employee Separation  While I have no quarrels with the overall structure of the Talent Management process, I do not think that there can be a one-size-fits-all kind of an approach.
Carolyn discussed this in an important speech last month; there is also a discussion paper about it, and a box in this MPR. The neutral rate, too, is uncertain. We estimate that it now lies between 3 and 4 per cent, which is well below pre-crisis levels.