Investors Want Companies to Focus on Hiring Great Talent in 2024

Can influential investors finally call the shots?

The EY Center for Board Matters says that corporate directors need to know that two-thirds of investors want companies to prioritize acquiring and retaining talent in 2024.  (https://www.ey.com/en_us/board-matters/a-preview-of-the-2024-proxy-season-for-board-directors)

I think this is great news and a study worth reading. The most important asset a company has is its people.

The problem is that companies too often rely on HR to do their recruiting and talent management. And the people in HR keep saying we need to do more with less.

When senior people leave, they try to replace them with very junior people because they cost less and are more malleable.

HR says, “We can find people more cheaply; we don’t need or want recruiters.”

But too many companies suffer from a GIGO – Garbage In, Garbage Out – style of recruiting, focusing on wide searches using keyword algorithms that miss folks who can add value.

I’ve learned that if you can improve your recruiting, you’ll get better people who will stay, contribute, and get promoted. Directors and executives need to realize this as well.

Metrics tell the story. But very few recruiters, internal or external, keep metrics, whereas I do.

How are you going to find, hire, and retain great talent in 2024? Are you making it a priority for your company?

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