Worldwide human resource experts are reporting a strategic shift in how companies recruit and retain talent, which has typically been considered an important driver of business competitiveness and growth, according to Executive Networks.
Talent development strategies are now focusing on building a solid base within the company, rather than competing for and stealing talent from competitors, and the shift was the center of discussion during the Future of HR Summit in Brussels in June, where HR professionals from five continents gathered for a two-day deep dive into the quickly evolving HR function in global business.
Executive Networks co-produced the Summit, along with John Herbert of the European HR Forum and Walt Cleaver, former president of the Human Resource Planning Society and current principal of Cleaver Consulting Group.
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"This is not your father's war for talent – that's for sure," says Mike Dulworth, CEO of Executive Networks. "Our global experts all agree that the focus has shifted within organizations – and away from focusing on just skills and capabilities – to developing a deep global mindset with an immersion in cultural norms and the political and economic realities of a given country or region."
The Future of HR Summit included experts who explored issues and trends in most of the world's key regions, such as Europe, Asia, North America, South America and Africa.
"Global leaders agree: The future is about talent, and the shift is away from acquiring it to developing talent within," says Walt Cleaver, co-producer of the Future of HR Summit. "But it's also about developing talent in powerful new ways. Competencies and skills are still important, but all our experts agree that there's a global shift in developing talent through deep personal and organizational experiences that build a truly global mindset and a strong internal leadership IQ for handling challenges in a volatile and uncertain business world."
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