Human capital is considered as the most appreciated and unfailing asset for any organization. To outwit the competition and deliver better business value to clients, ensure that you implement the right approach to recruit and position talent. Therefore, managing or leading a talent-driven organization is a matter of priority for any CEO. In this article at McKinsey, Dominic Barton and his fellow authors believe that every organization should pay equal attention to talent as they do to finance and strategy.
The lack of proper alignment at the top level of an organization is one of the major hurdles for a CEO. Coordination and understanding between HR and finance function are essential to drive a talent-centric firm. Only then a CEO can source and position talent in sync with the strategic vision of the organization. Barton shares some insights from his new book, Talent Wins, that could help you become such an effective leader and drive a truly talent-aligned organization:
Focus on G-3
The key to success is to integrate G-3, the top three executives of a firm – CEO, CFO and Chief Human Resources Officer (CHRO). Placing financial and human capital on an equal platform will completely revolutionize the way an organization works. In such a scenario, the G-3 would like talent to every item on their agenda. This can lead to better-integrated solutions and talent decisions.
Any organization should follow a top-down alignment approach if they wish to transform into a talent-centric organization. Alignment between senior management and the board of directors is essential to achieve this objective. Often the board of directors is only focused towards business strategy and compliance. But, their role should not be undermined while making talent choices. Barton talks about establishing a talent and rewards committee to bring about this change.
Mature Your Top Talent
Identify the top critical positions in your organization that are accountable for managing the largest chunk of investments or revenue. These critical positions could be just a meager percent of the total workforce in a company. However, the success of a talent-driven organization depends on how a CEO leverages this small percent of workforce to his advantage. Nurture this set of talent and empower them better to deliver radical business solutions.
Agile practice, when implemented in a talent-driven firm, can ensure perfect alignment between talent and business initiatives. This is an effective way of optimizing talent deployment in sync with the evolving market trends.
In the end, Barton sums up the essential needs for a talent-first firm as continuous talent development, top-level alignment, agility and corporate integration. To understand his viewpoint better, read the full article here – https://www.mckinsey.com/business-functions/organization/our-insights/an-agenda-for-the-talent-first-ceo