Executive search firm, Korn Ferry, recently released its global executive survey, which revealed that 70 percent of executives feel their organization is either ready now or somewhat ready to promote its talent. The remaining 30 percent of organizational leaders reported that they do not feel their organization is ready to promote its talent.
The survey of more than 100 senior-level executives from 49 countries showed that 39 percent of respondents believe their organizations either mostly or fully have the right talent to succeed in today’s changing global environment, while 46 percent believe that the talent in their businesses either mostly or fully have the right mindset required for global expansion.
The executive survey also examined issues with the talent management process, with 28 percent of leaders saying a focus on leadership ownership, or buy-in to the importance of a global talent management approach, was the biggest factor detracting from talent management efforts. Another 12 percent cited a lack of budget/funding.
“Global talent management is essential to an organization’s health,” said Andrés Tapia, Senior Partner, Leadership and Talent Consulting, Korn Ferry. “While many executives believe their talent programs are effective, continued focus needs to be on the way that leadership candidates are being developed and their ability to seamlessly lead across borders.
Some survey questions and results included:
Is your organization ready to promote its talent?
- Ready now (34%)
- Somewhat ready (36%)
- Not ready at all (30%)
What are the most important factors detracting from your enterprise’s readiness?
- Leadership ownership, or buy in to the importance of global talent management (28%)
- Organizational structure (20%)
- Cultural factors (20%)
- Talent issues (18%)
- Lack of budget/funding (12%)
- Technology issues (2%)
What competency listed below is most critical to the success of your global organization?
- Values differences (6%)
- Develops talent (17%)
- Attracts top talent (14%)
- Drives engagement (15%)
- Interpersonal savvy (1%)
- Collaboration (17%)
- Communicates effectively (12%)
- Global perspective (11%)
- Cultivates innovation (9%)