A new study from Cedar has revealed talent as one of the most critical factors for business success. In a survey of senior HR professionals, more than half said talent is important for business success but senior executives don’t have a shared understanding of what talent means.
Almost all (97%) of those surveyed said their organisation lacks the talent it needs to be successful, and 95% report skills gaps. Missing skills include leadership capability (with 69% of HR professionals saying their business lacks this skill), performance management (56%) and people skills (55%).
Almost a quarter (25%) said their most important talent gap is in first line and middle management, with 17% saying they lack women in senior positions.
Penny de Valk, Chief Executive of Cedar, said “People are one of an organisation’s most valuable assets, and having the right people in post is crucial to business success. Organisations should undertake regular audits to identify any particular areas that need improvement — from a skills and talent point of view, and put in place strategies to develop these specifically.”