So … last week I was in Miami, and did a talk on business disruption, transformation and innovation for about 30 CEO’s of companies in the healthcare, tech and IT sectors, on behalf of a private equity firm. The meeting also included a wide ranging discussion with a panel of ‘mentor’ CEO’s.
This is one of several events of this type I’ve done; through the years, an increasing number of private wealth, family offices and private equity firms have brought me in for talks, including a keynote in Greece where there was about $1 trillion of value in the room. At the conclusion, I managed to query all of these CEO’s on the biggest perceived challenges they face going forward.
Check out their response! Talent and skills! Speed of change!
The issues in the poll were the ones that they raised as major concerns, during the discussion part of the meeting, and had to do with these issues:
- how does a CEO establish an appropriate balance between the necessity for leadership and the criticality of strategy time?
- how to best manage the speed of change
- how to align their team to emerging trends, challenge and opportunities
- getting the right talent at the right time for the right purpose
- establishing an overall organizational culture of speed
- how to manage the disconnect between needing to change and historical legacy (as well as legacy IT)
- managing more complex consumer expectations
- when to jump onto a major trend
This is just so interesting from several perspectives, but first and foremost is this: I’ve long explained to my clients that a key issue for any organization going forward is this: “getting the right skills at the right time for the right purpose.”
Put this in the context of several recent headlines I’ve used in events : GE hiring more tech talent and purchasing startups than Silicon Valley companies; Ford hiring 27,000 computer tech staff to help it in the race for self-driving cars; and other similar issues.
Clearly talent is a major issue going forward, and workforce and skills innovation is rising to the top!