No doubt about it. The tight labor market has created an unprecedented search for the best and the brightest employees. Companies are making a huge investment in people and leaving no stones unturned to find their superstar. There is, however, one place most companies haven't looked. Instead of hiring that high-dollar hotshot, executive development coach David Dotlich suggests taking a closer look at the home team.

Before you join the "talent war" so many of today's companies have bought into, try waging your own "performance war" by re-recruiting the people who serve you quietly and loyally every day.

The term "talent war" is misleading and it implies that only people outside your company are talented and that you need to throw lots of money at them to get them on board. This creates a lot of problems, namely short-term incentives, as your "star" may leave the minute he or she gets a better offer. In addition, it discourages teamwork by making the rest of your staff feel inferior.

Making the decision to re-recruit your current employees represents a far more productive use of your time, energy and money, says Dotlich. It inspires teamwork and creates a strong company culture. It keeps your employees motivated by long-term incentives like job satisfaction rather than short-term ones like money. And you may very well find that it transforms B- or C-level players into A-level players.