Queensland Treasury Corporation
One of the most critical issues for building innovation capacity in organizations is the acquisition and maintenance of knowledge. As knowledge is the basis of human capital, then the ability to attract, retain and engage talent is argued to be an important element of innovation. By attracting and retaining good staff, the organization is retaining organizational knowledge which is necessary particularly for exploitation of current capabilities, but will also contribute to capacity for exploration for future innovation. This paper addresses the importance of retaining and developing staff as a critical issue for knowledge management and addresses the issue of retaining talent through effective succession management practices.