Companies report that approximately 73% of their growth will come organically—that is taking actions on their own to grow their business rather than partnering, engaging in acquisitions, or licensing their products and services. These figures should be a surprise to those who criticize companies for doing so little organic growth.
When asked what is most important driver future organic growth, results from the February 2018 CMO Survey indicate that “having the right talent” is more important than “having the right operating model,” “having all stakeholders aligned,” “having the right technology,” or “having the right data.”
These results underscore the important role that human capital plays in critical strategic activities such as growth. Without the right talent, the right operating model, stakeholder alignment, technology, or data are unlikely to materialize. Human capital is a foundational element that drives other important features of growth equation.
I am betting that talent is not at top of every CMO’s agenda. Survey results do indicate that spending on training and development has increased. However, I would say more can be done to attract, enable, and retain marketing talent.
How is your company ensuring it has the “right talent”? Share ideas and strategies here.
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