The People Management post, Firms Face Talent Management Challenge in Emerging Markets, discusses that challenges with operating in an increasingly global marketplace. Citing the results from a recent Ernst & Young survey, the article explains that only 20 percent of today’s organizations believe they effectively manage their talent across all markets. Some of the key issues defined included: cultural differences, difficulties balancing local and global talent, trouble with retention and a lack of a leadership pipeline.
Our sustainability consulting often finds that executives too often focus on the ‘quick fix’ that will bridge the obstacles faced in the moment, with a simple goal to get back to ‘business as usual’. Rather than addressing the larger needs leaders may focus on: How do we mitigate turnover risk, or how do we patch this hole in our talent supply?
In these cases, business sustainability actions show up as a ‘fix’ rather than a ‘change’ or part of the company's overall business culture reform. Our sustainability consulting has found one solution is to adopt a broader definition of sustainability that is not exclusively regarded as environmental action, but instead incorporates an expanded definition applicable to all parts of the organization. By opening the doors to the concept of a sustainable business culture, companies can address a variety of concerns:
- Stakeholder Engagement: Collaboration: Include all the Crayons in the Box
- Innovation: Three Executive Mindsets that Propel Sustainable Innovation
- Work life balance: Business Sustainability: Bringing New Meaning to Life/Work Balance
- Meaningful work: Which Path do You Take to Create Meaningful Work?
- Job satisfaction: Cultivating Talent with Sustainability-Based Incentives
- Sustainable leadership: Checklist for Sustainable Leadership: Do You Have What it Takes?
Thinking of sustainability as a boundless opportunity opens the door to actions beyond what have already been implemented. This allows an organization and its stakeholders to step beyond traditional roles to bring forward new ideas and create a business sustainability culture. Our sustainability consulting encourages companies to take the opportunity to address their talent and the manner in which the company identifies and cultivates these key resources.