Business Implications of the New Reality 2008: - Stanton Chase ...

18
Respondents indicated that their organizations’ top needs include:
The New Reality 2008
Talent is the most important source of
competitive advantage in the new
economy, and market-leading companies
are struggling to realize its potential
rather than simply measure its cost.
Effective talent practices are a fundamental competitive lever in the global knowledge
economy. Human capital management is not a human resources function; rather, it is
a critical new set of business skills for leaders throughout the enterprise.
Thriving in the New Reality and Winning the War for Talent
As the data has shown, The War for Talent is not a looming crisis for which we must
prepare; it is upon enterprises and organizations of all sizes right now. The New
Reality is that we are in the midst of talent management challenges at all levels of
management.
Almost 40 percent of business unit leaders, 52 percent of executives and 62 percent of
CEOs have an understanding of the implications of the New Reality. Furthermore,
more than half of CEOs are willing to adopt and implement necessary strategies to
compete in The War for Talent, which are encouraging signs. Whether these
challenges present themselves more as a result of a generational talent gap or a
significant attrition of the management pool due to baby boomer retirement is, in
some ways, irrelevant. The solutions coalesce around a few paths.