Global Leaders Need Their Own Talent Agenda
A variety of recent economic indicators show that global business leaders are spending as much as half of their time dealing with people issues inside their organisations.
These span growing needs to recruit to fill key talent gaps and to develop human capital management strategies that will propel business growth to a range of compliance and regulatory issues relating to healthcare, data privacy, diversity and other Human Resources issues.
A new roadmap for maximum impact
Global leaders – including a growing number of Chief Executive Officers – are coming to terms with the notion that as new demands present challenges and opportunities for their enterprises, they need not only a clear point of view about managing their companies’ talent but also a new roadmap for maximising its impact on the bottom line.
Talent is, after all, a leader’s biggest lever for managing to desired business results.
Getting the right people into the right roles is a critical part of the new competitive equation. Getting the most out of them is fast becoming a business imperative. Recognising that top performers have increasingly attractive (and more numerous) career options and adjusting compensation frames can help keep them. And connecting the dots between business results and talent should now be an integral part of corporate strategy.
Create and mobilise around a coherent talent strategy
So where do you stand when it comes to enterprise talent?
If you’ve learned important lessons about what motivates and inspires people, it’s time to build these things into your management team’s actual daily practices. If you scoff at some of your HR department’s approaches to recruiting or rewarding people, it’s time to change outdated policies. If you’re not getting consistent commitment, effort and results from people, it may be time to replace them.
All of this points to our collective calling, as global business executives, to create and mobilise around a coherent talent strategy that everyone in your company can get behind because it’s in everyone’s best interests.
The stronger the company’s talent policies and practices, the more sustainable and predictable its financial results will become.
Global leaders who create clearly articulate a talent strategy that demonstrates how investments in people drive total returns to shareholders will invariably create a reputation and legacy that will be lasting.
But no one will do it for you. You have to act ahead of the curve – and certainly ahead of the competition – to create the momentum and the confidence to grow your business and attract the best people. You’ll be glad you did.