Managing people and increasing concerns about not having enough “good people” coming through to executive levels.

A recent newspaper report highlighted that there is a worry in the “Big 4” accountancy firms that there will not be enough people coming through their “talent pipeline”.

For many businesses, the thought will strike them that “if one of the deepest resourced firms in the country is having issues, what could that mean for us?”

In our view, part of the reason that many businesses are starting to feel blindsided by developments like this is the recent prevalence of the AI conversation – with the consequence that staffing questions have tended to centre around how AI will either augment or replace people in their business.

However, what is starting to clearly emerge is that whilst AI can collate and summarise, it cannot create and it cannot lead.  In addition, the cost of “hiring in” new leadership has significant cost implications (in respect of both time and money).

Therefore, it is still crucial for Boards and their senior strategic internal advisors to have managing the executive “pipeline” as a regular issue for the remuneration cycle.

Areas that we consider will require particular attention in the next twelve months include:

Succession Planning:

Where will the internal people come from? What challenges might they and you be facing over the succession journey? What systems do we have in place to identify and nurture talent?

Reward Structures:

Are we competitive? Do we know where our reward blind spots exist?

Culture and Organisation Design:

Does our internal culture allow for the right type of candidates to advance and be noticed?  Are the structures of today going to help retain the leaders of tomorrow?

If you would like to discuss any of these questions – or any other thoughts sparked by this article – please contact Stuart James (stuart.james@mm-k.com) in the first instance.

Back to News