Coined in 1997, the war for talent has echoed throughout the business world and remains a critical challenge across the globe. "Let's face it. There are 80 million Baby Boomers who are going to retire over the next five to seven years, and they're going to be replaced by 40 million Gen Xers," exclaimed Michael White, Chairman, President & CEO of The DIRECTV Group. "That's two to one, so you'd better be developing your next generation now if you're going to be ready for that transition."1
Sponsored by BTS, a recent research study conducted by the Economist Intelligence Unit reveals that skill shortages were considered to have a greater impact on strategy execution than global competition, regulatory constraints, political uncertainty and technological changes. While economic uncertainty was recognized as the greatest challenge, 47 percent of senior leaders considered skill shortages to be a major obstacle inhibiting their company’s ability to meet strategic goals.
Constrained by talent shortages, organizations are increasingly focused on developing capability internally to achieve exceptional strategy execution. More companies are leveraging innovative learning approaches designed to accelerate results. Proven to be particularly effective, customized business simulations are projected to grow a striking 140 percent over the next five years — faster than all other development methods surveyed.
Is your company a part of this growing trend? Watch the latest video to discover how business simulations accelerate strategy execution.
1"The Talent Challenge", 15th Annual Global CEO Survey: Delivering Results, Growth and Value in a Volatile World, PwC, 2012, 23.