A Vital Message For Emerging, High-Potential Leaders

Put a group of ambitious, first-time business leaders in a room together today and the discussion will likely turn on top-line revenue growth, the challenges of entering new markets, risk management and what politicians should do to stimulate economies.

Each of those deserves attention in this especially volatile global business environment, but perhaps none as much as the cross-functional performance lever that is 'talent management'.

No matter one's experience, education, functional expertise or industry, the ability to inspire and lead talented individuals and teams to higher levels of business performance is central to enterprise success, and will be for years to come.

Now more than ever before, talent management is everyone's business. It is the lever of human potential that can most influence organisational results. Yet it is one so often overlooked, or contained within the Human Resources Department or given only lip service by chief executives who talk about "people as our greatest asset" yet who have, at the same time, allowed archaic HR practices to tamp down progress.

If you're a business leader, you are indeed a talent manager, and must see yourself as such. This is especially vital for emerging, high-potential leaders who are the next generation of business leadership.

Ours is the epoch when talent, innovation and intellectual property are becoming the prime competitive resources through which business goals and growth are achieved.

Great people most often leave their bosses because those top managers aren't connecting the needs of superior talent with organisational priorities. Leading companies excel with progressive talent management practices and policies.

It's time for every manager to commit to talent management as a continuous cycle for renewal and repositioning in a business world whose tectonic plates are shifting faster and with more risk and opportunity at stake than ever before.


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Human Capital as an Asset
weforum.org

"The devastating labour-market impact of the pandemic and the need for governments to step in and provide extensive support have made it clear that a financially incentivized business model driven by short-term wins no longer works; public and media focus on how companies manage their human capital resources is intensifying."

This report from the World Economic Forum seeks to provide a human capital accounting framework that values talent as a key asset to contribute to an organisation's sustained value creation.

Read "Human Capital as an Asset" leadership insights

The AI Revolution: Fast Rising To The Top Of The C-Suite Agenda
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Artificial Intelligence has reached a tipping point. Hailed as "the next big thing" for the past few years, AI is poised to fundamentally change businesses and people's lives - a shift described as the "fourth industrial revolution".

It is always a challenge to successfully adopt new technology, but AI is a strategic market that cannot be ignored. The challenge is no longer realising the importance of AI, but in applying and sustaining it.

Getting started with AI can seem daunting, and there are many facets to assessing readiness, including governance and strategy practices, process and data practices, technology enablement practices and talent management practices. On the talent-readiness side, CEOs and CHROs can look within the organisation, asking questions such as: Do we have communication and training programs to develop AI skills for all employees? Do we have a skills re-training framework in anticipation of the impacts of AI? Do we have reward and recognition incentives for those who innovate with AI?

Of course, a key piece of the puzzle is recruiting top AI talent from outside the organisation. With a global shortage of AI expertise, the time is now to take advantage of the world-class talent emerging from our universities and research centres.

While the change won't happen overnight, businesses can become AI ready and remain competitive by recruiting the leaders of tomorrow. Their future may depend on it.

Darren Raycroft discusses the preparedness of Canada to meet the needs of the AI revolution.

Read "The AI Revolution: Fast Rising To The Top Of The C-Suite Agenda" leadership insights