You are the CEO of a major multinational services company, headquartered in London. Over the past few years, your business has been growing exponentially in your best-performing markets. Yet your balance sheets aren’t showing the profits you anticipated. You call a meeting of senior management, all of whom work in the central office, and ask: what’s going wrong? Nobody seems to know. It seems that achieving the top- and bottom-line performance competitors are driving is just that little bit harder than you thought.
In fact, the answer could be sitting in that very room. Why, if you’re trying to build and drive productivity in your best-performing markets, is your talent sitting at home, rather than being on the frontlines of that market potential?
This is the talent-to-market alignment gap. If a company is attempting to drive performance in its biggest markets, then it needs to hire or appoint people who know the business best and team them with those who are familiar with those markets to drive competitive market performance. If it doesn’t, it may be missing out on major productivity opportunities.
Closing this gap could lead to big gains for everyone. EY has estimated that if firms headquartered in the UK could get their talent-to-market alignment up to US standards, it could represent a $900 billion uplift to the national economy from the resulting higher productivity. It’s time to get serious about talent alignment.