Realigning to Manage Talent

Business leaders around the world are deeply concerned about the intensifying competition for talent, yet few companies make it an integral part of a long-term business strategy, and many even try to raise their short-term earnings by cutting talent-development expenditures reports a McKinsey survey.

Other factors compound the difficulties of recruiting enough appropriate talent: minimal collaboration and talent sharing among business units, ineffective line management, and confusion about the role of human resources (HR), not to mention challenges such as Generation-Y employees seeking greater work/life balance, expansion into global markets, and the specific needs of the fast-growing category of knowledge workers.

There is another problem: the declining influence of the HR function. Yet only it can translate a company’s business strategy into a detailed talent strategy. HR professionals should assert their influence and provide credible and proactive business counsel and support for individual business units.

Business leaders around the world are deeply concerned about the intensifying competition for talent, yet few companies make it an integral part of a long-term business strategy, and many even try to raise their short-term earnings by cutting talent-development expenditures reports a McKinsey survey.

Other factors compound the difficulties of recruiting enough appropriate talent: minimal collaboration and talent sharing among business units, ineffective line management, and confusion about the role of human resources (HR), not to mention challenges such as Generation-Y employees seeking greater work/life balance, expansion into global markets, and the specific needs of the fast-growing category of knowledge workers.

There is another problem: the declining influence of the HR function. Yet only it can translate a company’s business strategy into a detailed talent strategy. HR professionals should assert their influence and provide credible and proactive business counsel and support for individual business units.

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