To succeed, companies must prioritize great talent, adapting to rapid changes in the workforce landscape. Factors like the Great Resignation and technological shifts necessitate a modern approach to talent management. HR must work closely with business leaders to develop AI-driven talent strategies and proactively manage succession plans. Effective strategies include investing in leadership capabilities and promoting internal mobility through skill development. However, many C-suite leaders acknowledge the inadequacy of current succession planning efforts and the need for immediate updates to retain top talent.
Only 24% of C-suite leaders believe their companies are proactive in succession planning, according to a Russell Reynolds report, and that oversight is costly.
The clock is tickingâmodernizing your talent strategy needs to include rethinking your approach to succession.
HR has to function in lockstep with your business to forecast and anticipate what's next, which means knowing and nurturing your talent.
Investing in leadership capability from the outside in and accelerating internal mobility with a skills strategy are critical for a future-ready workforce.
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