Many organizations have completed their strategy and budgeting processes for the next cycle and have likely established ambitious goals. However, research by McKinsey & Company indicates that most strategies fail to deliver expected results and that, 9 times out of 10, there is no fatal flaw in the strategy but rather the organization lacked the skill and/or will required for successful implementation.
Ask yourself the following questions about your talent:
- Have we identified the “pivotal roles” responsible and accountable for implementing key business strategies?
- Do we know and understand the knowledge, skills and competencies necessary for success in those pivotal roles?
- Do we have the right people with the right skills, the right knowledge and the right experience in the right places now – and for the next 3 to 5 years?
- Do we have the time to develop the necessary talent internally?
- What will it cost if the requisite talent is not in place?