CEOs know that meeting their most urgent business growth challenges is inextricably linked to the strength of their human capital base. Effective use of human capital resources remains a critical issue for our respondents, and their strategies to improve productivity center on developing talent from within, improving leadership skills and pipeline, and building a performance culture through engagement, measurement, and accountability.
Importance of Culture and Inclusion to Engagement and Performance
What CEOs’ selected strategies for meeting the Human Capital challenge are telling us:
• Many CEOs see building a strong organizational culture through engagement, inclusiveness, and talent development as a performance imperative.
• Human Capital strategies revolve around five key goals:
- Develop effective leaders
- Build organizational capacity/individual skills
- Raise employee engagement
- Foster a culture of inclusion
- Address the impact of labor shortages
• Transparent communication at all levels of the organization and an open and safe “speak up” culture are necessary for creating an inclusive environment that drives engagement and enhances high performance and accountability.
• Talent, especially talent with the right skills, is in short supply, and CEOs are investing in developing the skills and potential of existing talent within their organizations rather than hiring from the outside.