Over the past decade, talent management initiatives have become a critical priority for organizations. In 2016, KPMG found that 99 percent of CEOs reported they’ve taken action to develop existing or future talent. The same study also found that nearly half of CEOs expected their companies to be transformed into a significantly different entity within the next three years. This is because since 2000, 52% of companies in the Fortune 500 have gone bankrupt, been acquired, or ceased to exist. To remain competitive in our disruptive, digital age, this type of business transformation has become necessary. Achieving these huge business transformation feats is not for the faint of heart and requires robust organizational change and talent management.
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