UK Partner, Jon Andrews, discusses the importance of better understanding the risks and returns from investing in talent.
Talent is a real issue for CEOs. In fact, in our survey, a quarter of them told us they were unable to pursue certain market opportunities due to lack of talent. So having the right talent in the right place at the right time is clearly critical.
The lack of talent is not a new challenge. CEOs have been struggling with it for quite some time. In fact now they are looking for different ways to resolve the issue. 78% of them are even investing with governments in talent outside of their own organisation in order to resolve the issue.
So in practice what this means is that organisations are going to forge much stronger relationships with universities and other learning institutions. And, in turn, that means the HR function is going to have to step up in terms of the way in which it interacts with these bodies, which is a real change in the way they think through learning and development.