Facing the talent challenge

Facing the talent challenge
CEO point of view on the HR challenge: Delivering results through talent


 
The talent impact on companies
Hear CEOs from DIRECTV, Bayer AG, Newmont Mining Corp. and others on the need to attract, develop and retain the right people to help their companies succeed.

Talent shortages and mismatches are impacting profitability now
One in four CEOs said they were unable to pursue a market opportunity or have had to cancel or delay a strategic initiative because of talent challenges. One in three is concerned that skills shortages will impact their company’s ability to innovate effectively.
Impact of talent constraints on growth

 

CEOs report challenges in hiring across most industries
Even industries such as banking that have retrenched workers in large numbers are still struggling to get the right people. The strain in hiring will not abate in the near term. More CEOs expect to expand their workforces than reduce.
Difficulty of hiring by industry

 

Seeking more information on effectiveness of their investments in talent
Productivity and labour costs remain important measurements. Yet for many CEOs, those tools aren’t enough. Such measurements cannot isolate skills gaps or identify the pivotal jobs that drive exponential value. Hence CEOs are looking for a more comprehensive understanding of talent today and their needs for tomorrow.
CEOs aren't getting information on talent



A new focus on local talent and internal development/promotion

The future of the global workforce


Quotes

Francisco González
Chairman and CEO, Banco Bilbao Vizcaya Argentaria (BBVA) SA
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The idea that banks need only conventional people no longer holds true. If we really want to compete in the future, we need to update the qualifications of our people and that’s where talent comes in.
Michael White
Chairman, President and CEO, DIRECTV
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Let’s face it. There are 80 million Baby Boomers who are going to retire over the next five to seven years, and they’re going to be replaced by 40 million Gen Xers. That’s two to one, so you’d better be developing your next generation now if you’re going to be ready for that transition.
F William McNabb III
Chairman, President and CEO, The Vanguard Group Inc
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We’ve spent time thinking about flexibility and mobility. Historically we’re a company that only has a few locations, and people generally come to those locations, and we spend a time in face-to-face meetings. We’ve begun to ask ourselves, are there other ways to manage the business that provide some of our people more flexibility, in terms of where the work gets done and how the works get done?
Erdal Karamercan
President and CEO, Eczacıbaşı Group A S
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Although Turkey has a relatively high unemployment rate – around 10% – when we try to recruit qualified blue-collar workers, we don‘t have many of them around.
Marijn Dekkers
Chairman, Bayer AG
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But what is interesting and what is changing is that among Western companies, the ability to hire, develop and retain talent in the developing economies has become a major point of competitive differentiation.
Ajay G. Piramal
CEO, Piramal Group LTD
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The global pharmaceutical discovery model is going through some restructuring and companies are cutting down on talent in the area of innovation. So high quality talent is available to us.
Jouko Karvinen
CEO, Stora Enso Oyj
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It isn’t about young versus old, or the developing world versus the developed world. The most critical selection criteria that we used in putting together our team of junior managers together was to maximise diversity of thought.
Andrey Kostin
CEO, VTB Bank OAO
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In some countries we have constant shortages of risk managers or retail experts, for example, or local finance experts with relevant expertise. Sometimes the solution is to relocate people from other offices.