Making the board more strategic: A McKinsey Global Survey outlines responses from nearly 600 corporate directors. What are they thinking? They are concerned about developing more forward-thinking strategies for value creation and shareholder return. Whats at the bottom in terms of time spent yet primarily top of mind? Talent management.
Boards and Time
Leading the pack of issues, 53% of respondents would like to see more time devoted to this initiative. Add this insight to the epiphany at Davos and current CIO thinking, the war for talent coined by McKinsey a decade ago is on everyones minds from the top down.
Executive minds are rethinking priorities when it comes to talent management. They want more strategic thinking around talent. The exciting news for HR is that board level leaders know what value talent brings to business and what kinds of results can be achieved by the organization.
Of course succession planning is there. But note the emphasis on Defining optimum organizational structure and core skills, capabilities needed below the top team. That lines up with the value of unified performance and recruiting and a talent master system of record.
Now that talent management is top of mind from the board room to HR, now is the time to plant the seeds of opportunity, regardless of the economic season.
