The Talent Crisis by Brian Davis. Ph.D. in CEO
With talent at a premium, organizations will need to adopt effective talent management strategies. McKinsey, a global management consultancy, predicted a war for talent in 1997, and it was right.
In fact, the battle is set to intensify over the next decade and, as Brian Davis, executive vice president of Personnel Decisions International (PDI), a leading human resources consulting firm, points out: ‘Talent is not just a valuable asset; it is rapidly becoming the key factor in sustaining an organization’s competitive advantage.’
Further complicating the situation are changes in the organizational structure of talent management. Key aspects of the human resources function are being outsourced, a trend that is likely to continue. Losing core capabilities needed to compete on talent does not make the job any easier.
Identifying the next generation of high-potential executives within organizations, therefore, will require some significant changes in conventional organizational thinking. More than merely drawing up ‘talent maps’ to assess present and future skills needs or carrying out worker engagement surveys, a systemic approach is needed that integrates people strategy with business strategy. Read more