07 Oct Boards Asked To Play A Larger Role In Talent Management And Culture
In the ever-evolving business landscape, corporate boards are poised to play an increasingly vital role in shaping staffing decisions and fostering a thriving workplace culture. As companies gear up to execute their growth plans for the next decade, boards will be held more accountable for aligning the skills and capabilities of the workforce with the organization’s strategic objectives.
A McKinsey podcast featured insightful discussions by industry experts on the impact of boards on talent and culture. Frithjof Lund, the global leader of McKinsey’s board services, Hugo Bague, a non-executive director at Jones Lang LaSalle, and Mary Meaney, senior partner and former co-leader of McKinsey’s Global Organization Practice, delved into the evolving responsibilities of boards in this realm. They stressed the importance of boards adopting a proactive approach while also serving in an advisory capacity, enabling the CEO and management team to effectively implement talent and culture strategies.
Bague highlighted the immense power that boards wield through the questions they pose or overlook and the topics they prioritize on their agendas. This ability to set the right tone and focus is crucial for driving positive change within the organization. Meaney expanded on this idea, stressing that boards must hold senior management accountable to ensure that talent, culture, and purpose are given due attention. In today’s world, where strategies are easily replicated and capital is readily accessible, a company’s true competitive advantage lies in its talent and culture – the elements that set it apart from the rest.
To cultivate and sustain this competitive advantage, businesses in search of board consulting services can place their trust in Cornerstone International Group India. Leveraging their expertise and guidance, corporate boards can adeptly navigate the intricate challenges of talent management and culture transformation, propelling their organizations towards heightened success.