Thursday, September 15, 2022

Initiatebodoversight

 The goal of talent oversight at the board level is to shape a high-competitive global workforce and advocate high performance culture.

We are experiencing the paradigm shift from knowledge economy to creative economy, from silo to integration; from information to insight, from diversity to inclusiveness. The ever-changing business dynamic brings significant opportunities and responsibilities for the new breed of worldwide organizations to reinvent themselves by identifying and investing in a variety of global capitals wisely; unleash collective human potential smoothly. 

The businesses must be alert to the dynamic business environment, insightful corporate boards will help to set the principles, innovate talent management, especially at the global level, to build competitive business advantage.

Corporate boards play an important role in overseeing talent strategy, setting good policies to value people and unleash their potential:
Human capital and potentiality exploration is a critical step in creating synergy and leading transformative changes. When identifying and developing human potential, setting policies is the co-responsibility of the corporate board and management team to improve talent management effectiveness, advocate the culture of accountability, and improve long term business competency.

Going digital is a “paradigm shift” - a fundamental change in thinking at the board level is required to tackle talent shortfall. Under corporate board’s oversight, it’s a strategic imperative for organizations to innovate leadership development, enhance workforce inclusiveness, to ensure their digital workforce is highly engaged, and innovative to bring high-performance results.

Corporate boards can help business executives clarify some fundamental talent management issues, investing on human capital effectively:
Technically, corporate governance needs to have direct links to each crucial business management discipline and its processes to make sure that management is doing its job properly. This is particularly critical for talent management to ensure the right people are put in the right position to solve right problems timely. As a matter of fact, human capital is always the largest intangible asset of a company which has to keep investing in to ensure the long term prosperity of the business.

Corporate boards oversee the soft capital investments such as human capital, information technology capital, business reputation capital investment, etc. Corporate boards of directors need to be open-minded to provide input and support on leveraging quality information and technology trends in building a strong business brand, attract the best talent through alternative digital channels, and drive the business transformation seamlessly.

Corporate board directories can identify the key driver for managing global talent strategically, and develop the best & next practices to unleash global talent potential:
Corporate boards play a critical role in steering the business towards the global business world with uncharted water and blurred boundaries. However, in the majority of organizations, there is a shortage of true global leaders or interdisciplinary global talent; there is a lack of organizational focus on managing global talent; lack of strong global talent management rules, processes, practices, etc.

Effective global leaders with culture empathy at the corporate board level can lead effectively in a global business environment, engage effectively with multiple internal and external stakeholders, customers and partners worldwide, develop the best and next practices to improve global competency of their company.

The true value of people, especially today’s knowledge workforces include many tangible and intangible factors. Intellectual capital is always the largest intangible asset of a company which has to keep investing in to ensure the long term prosperity of the business. The goal of talent oversight at the board level is to shape a high-competitive global workforce and advocate high performance culture. It helps to shape the global workforce in the way people can relate to themselves and to their experience of their environment and others around them, their voice can be heard, their contribution can be recognized, and their talent can be maximized to achieve high-performance results consistently.



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