Top talent is scarce and should be invested in: backed by research
For companies large and small in industries across the board, top-tier talent is limited. A Conference Board study concludes that the biggest challenge C-level executives are facing – both currently and in the upcoming years – is “developing next-generation leaders” and “failure to attract and retain top talent.” The same survey revealed that only 14% of CEOs feel that they have the leadership talent they need to execute their strategy.
When it comes to top-tier talent, your ability to identify these folks early on and develop them within your organization is paramount. Showing your next generation leaders that you care about their growth enough to invest in them will aid in retention, not to mention keep them engaged and influence your company culture as a whole.
Investing in top-tiers is also advantageous when it comes to the competitive landscape of today’s 21st-century workforce. Investing now will lead to continued growth and success when it comes time for them to take the reins.
Here are some other reasons why investing in your top talent is crucial to the future of your organization.