A new study conducted by PWC found CEOs across the world are currently, and understandably, concerned about ‘survival’ as opposed to ‘growth’. But make no mistake ‘talent’ is very much on the agenda. In fact an overwhelming 72% think that talent is a ‘source of competitive advantage in sustaining long-term growth’
Asked the question ‘Considering the talent required for the success of your business, what are the key challenges you face?’, a majority (69%) think skill shortage is the biggest challenge.
Ralph Norris, CEO of Commonwealth Bank, was quoted in the report:
“Clearly, we’re going to see a situation where the war for talent is only going to increase in intensity…As a result, we’re doing a lot of thinking at the moment about how we handle workforce flexibility and the different requirements of the various generations that comprise our staff. At the moment, we have four generations of people working in our organisation: those born during the Second World War, the Baby Boomers, Gen X and Gen Y”
Don’t be sidetracked by the alarmists or short-term recessionary bumps. Talent recruitment and management will be an enduring challenge for organisations in the future.
The report is a must read, it can be downloaded here. (warning large file)