Heidrick & Struggles: Talent Strategy Questions Every Board Should Ask
A report from Heidrick & Struggles revealed significant gaps between the importance of talent management and a board’s ability to influence it. Heidrick & Struggles found that 92% of respondents placed importance on “a comprehensive review of top talent performance and engagement in succession planning.” However, over half said board performance was only satisfactory.
Leadership talent and competencies will always be critical to corporate success. Members of the board are often current or former CEOs and CFOs and while they can easily talk about strategy and finance, they are often reluctant to discuss talent issues.
Boards often feel unprepared to explore their company’s talent strategy. But talent strategy is a crucial component of corporate strategy and cannot be neglected by boards as they fulfill their responsibilities. By asking the right questions, agreeing how to measure progress, and ensuring regular high-level reviews, the board not only underscores the importance of talent strategy to corporate health but can also uncover risks and weaknesses before they affect company performance.
The full report is published on Heidrick & Struggles’ website. Read the full report.