Boyden reveals innovation, human capital, digital transformation top growth drivers

KUALA LUMPUR, Sept 6 (Bernama) -- Boyden, a premier leadership and talent advisory firm, has reported on its annual global executive talent research, showing that innovation, human capital and digital transformation are the top growth drivers.

With ‘competing for the right talent’ a top driver of structural change, Industry 5.0 is gaining momentum as organisations strive to align talent with digital advances, particularly AI/robotics/machine learning and tech/cloud/cybersecurity talent.

The global study, “Strengthening the human-centric core of Industry 5.0, How can organisations thrive in a complex world of risk?” explores perspectives on risk among CEOs, boards and other senior leaders, alongside executive talent trends, priorities and investment.

Core findings show that (i) innovation, (ii) human capital and (iii) digital transformation are the top three drivers of growth over the next two years, according to a statement.

Confidence in organisational growth potential is high, with 70 per cent very confident or confident, but greater alignment of talent is needed: confidence in having the right talent to align with strategy is at 59 per cent confident or very confident.

This confidence is impacted by risk. The top external risks are identified as (i) inflation, (ii) global economic volatility and (iii) supply chain disruption. The top three internal risks are: (i) rising business costs, (ii) employee burnout and (iii) the need for different executive skill sets.

Research finds that, at the executive level, 81 per cent of respondents identify a need to strengthen digital talent (AI, robotics, machine learning); 80 per cent tech, cloud and cybersecurity; and 79 per cent marketing & sales.

Looking ahead to 2023, recruitment and retention challenges are expected to increase: 68 per cent of respondents expect to experience recruitment challenges, compared with 49 per cent the previous year; and 63 per cent of respondents expect to experience retention challenges, compared with 50 per cent the previous year.

The research was conducted in Q2 2022 among senior executives worldwide. A total of 640 complete responses comprise 32 per cent from Europe, 32 per cent from North America, 18 per cent from Asia/Pacific and 16 per cent from South America.

-- BERNAMA