The talent advantage: Does your organization have it?

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Board Perspectives — Issue 195

An organization’s “talent advantage” refers to its superior ability to attract, develop, retain and effectively deploy skilled employees and manage a multigenerational workforce compared to its competitors. The board should expect management to pursue it.

To effectively oversee talent strategy and execution, the board should collaborate with the CEO and the chief human resources officer (CHRO) to align talent management objectives with overall strategic goals. The challenge directors face in today’s environment is setting the right expectations of the CHRO and management team for addressing current and future human capital needs.

Here are six expectations of HR the board should consider:

• Embrace a value-driven mindset
• Reframe labor and talent needs as a skills-availability issue
• Address generational distinctions in demands and expectations
• Take control of the AI-impact-on-the-workforce narrative
• Develop next-gen L&D capabilities and continuously redesign job roles
• Periodically report on talent and culture reviews.

 

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