The Talent Gap – Is it Reality or Fiction?

A simple Google search on the words “talent management” reveals almost 17 million hits, and if we look at studies in all countries over the last decade, every time CHRO’s & CEO’s are surveyed, two of the top three challenges they say they face are lack of talent and a shortage of leadership. It isn’t clear whether these two are linked (i.e. is talented leadership scarce; or is it that both leadership and specific talents at all organizational levels are in short supply.)

Whatever the answer, it does appear to be a universal and long-standing issue. One would think that if it is so important and companies have been working on it for decades, they would have found a solution by now.

This raises the question, with all this information and such a multiplicity of studies, why has it not been fixed? Thus we address the question “Is the talent gap reality or fiction?”

In a previous articles, we described a Human Resources Framework encapsulating the five knowledge competencies  which we believe are requisite elements for CHRO success:

  1. Strategic Business Planning and HR Alignment
  2. Talent Acquisition Allocation and Management
  3. People Management
  4. Compensation, Rewards and Recognition
  5. Employee and Leadership Professional Development

In our most recent article, Making of the Super CHRO, we discussed how HR must align people strategies with the overall corporate mission.  In this article, we cover the only sustainable factor that differentiates successful organizations from those that don’t make it – finding, developing and keeping talent.

The fact that it continues to be a problem means that either it isn’t as important as surveys say; or it is important but no one has the answer. This conundrum is a tough nut to crack.

There seem to be four overarching factors that make the issue a real challenge.

Download PDF: The Talent Gap – Is it Reality or Fiction?

The Making of the Super CHRO

Today CHRO’s are judged on what they deliver and how they get things done. Aligning talent, fostering engagement, enabling common shared vision and values are critical elements in their toolkit. The CHRO has a vital role in shaping the direction of the organization and ensuring business success for all its shareholders. A tall order for sure but one that I believe we are fully equipped to deliver.

In a previous article, Aligning HR Strategies to Create Business Success, I (Philip Wilson) described a Human Resources Framework encapsulating the five components which I propose are the knowledge competency base that are requisite elements for CHRO success:

  1. Strategic Business Planning and HR Alignment
  2. Talent Acquisition Allocation and Management
  3. People Management
  4. Compensation, Rewards and Recognition
  5. Employee and Leadership Professional Development

This article gives more detail on item 1 above – Strategic Business Planning and HR Alignment. The intent is to provide the reader with a deeper insight and focus on the strategic business planning process and how CHRO’s can help align HR with the overall strategic business priorities of the firm. That activity must include consideration of areas such as board governance, corporate vision, mission, values, logic modelling and how the strategy is executed. Bill Greenhalgh, currently President and Chief Executive Officer Stratx Inc., provides insights from a CEO’s perspective.

Download PDF: The Making of the Super CHRO

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