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October 13, 2021 | Research Report
CEOs and CHROs must work together to acquire the talent the organization needs to succeed, especially in today’s forever-changed labor market. The insights revealed in this report emphasize that, to be competitive, CEOs should ensure that TA, onboarding, and internal mobility practices are drivers of talent and organizational strategy. As organizations rethink their future talent strategies in a hybrid work world, this report examines the conversations CHROs need to have with their CEOs and their TA and HR leaders.
BRIEF
Talent acquisition (TA), onboarding, and internal mobility have experienced intense turmoil in the past 18 months, and the next 18 months are likely to be no less turbulent. In 2021, the two top stressors worldwide for CEOs and C-suite executives were COVID-19 and recruiting and retaining top talent, according to the “C-Suite Challenge™ 2021: Leading in a Post-COVID-19 Recovery” report from The Conference Board. The pandemic put unprecedented focus on employees as organizations were required to prioritize health and safety and change the way work gets done. “HR has been center stage during COVID,”as one CHRO we interviewed put it. The labor market has gone haywire in the past 18 months; as of this writing, it is historically “tight,” meaning it is extraordinarily difficult to hire and retain talent. Voluntary turnover is the highest it’s ever been. CEOs and leaders are now more dependent on and more attuned to human resources (HR) than ever.
“The number one constituency I serve is my employees. The single biggest competitive advantage that any company has is the skill set and the passion of their employees…If you have the best talent, you will serve customers better than your competitors…if you serve your customers better, then eventually, your shareholders will be served better as well.”
Finding and keeping talent has become the central focus of both CHROs and CEOs. Workers are demanding flexibility in where and when they work, requiring organizations to update their employee value propositions to attract candidates and retain existing employees. The pandemic also forced most TA and onboarding functions to dramatically transform their processes, with many moving to primarily virt
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