Los Angeles — March 21
When asked what they felt is the single most important corporate strategy for their company to implement, 45 percent of global executives said talent management, according to a recent survey.
What’s more, executives also indicate it is more critical than marketing (26 percent), financial management (21 percent) and capitalization (7 percent), according to a survey of global executives by Korn/Ferry International.
Despite ranking talent management the No. 1 corporate strategy, 35 percent of respondents said their companies do not have a talent management strategy in place.
The survey also revealed that 86 percent of executives believe that a strong management team is the most critical component to a company’s success. Yet 43 percent say they do not believe their company has the right management team for the company during the next 12 months, and 56 percent do not believe they will have the right team five years from now.
This is despite the fact that just 7 percent of respondents believe their company’s strategy will remain the same in five years, according to the survey.
Source: Korn/Ferry International