A new survey from our sister firm Protiviti highlights the top risks businesses face. Clive Davis, Executive Director of Enterprise Optimisation at Robert Half, explains how leaders can turn challenge into opportunity.
“Talent retention is a major near-term risk in our very competitive industry and region. We are focusing actively on people - investment in competencies, education and flexible benefits.” This quote, from a chief financial officer in the energy industry, appears in Protiviti’s Executive Perspectives on Top Risks for 2025. It clearly reveals what’s on the minds of business leaders.
Protiviti's 2025 Top Risks Survey highlights that economic conditions, including inflationary pressures, cyber threats, and talent management challenges are the foremost concerns for organisations in the near term. The survey gathered insights from 1,215 board members and C-suite executives worldwide, reflecting a comprehensive perspective on emerging risks.
The prominence of talent, culture, and succession-related issues underscores the critical importance of attracting, developing, and retaining top talent, managing shifts in labour expectations, and addressing succession challenges to maintain organisational resilience and competitiveness. The good news from Clive Davis is leaders have multiple risks to juggle. But they have tools to manage them and create new opportunities.
How to turn talent risk into opportunity
How can businesses attract, develop and retain top talent? Like the quote at the start of this article, good businesses are self-aware. Good businesses have a talent management strategy. They are transparent about what they can offer and understand how they compare to the competition. They also have the tactics in place to make their strategy work.
They might offer an innovative approach to hybrid working, for example, which allows them to recruit candidates from hundreds of miles away. They might have a clear plan for training and development around artificial intelligence and technology. They will definitely provide reassurance about their vision and balance sheet strength in a tricky economy.
Because candidates are looking for more than a bump in their pay. They are actively thinking about investment and training; joining businesses that will help them to develop, especially when demand for new technology skills is high. Candidates are also looking for more information before considering a potential move; they want as much certainty as they can get. Good businesses can provide that reassurance and support.
How to lead and communicate in times of change
How can businesses deal with the speed of disruptive innovation? The good news is that they feel better prepared than they did five years ago. Respondents to Protiviti’s survey say they are “battle-tested” after the Covid-19 pandemic, and the associated disruption to technology platforms, supply chains and markets. This finding will give confidence to candidates. But businesses will still need to demonstrate what the future looks like, and how recruits will play their part in it.
A solid talent management strategy also comes down to effective leadership and clear communication, both of which have evolved in recent years.
Leadership has become more complex. This is because more organisations have a hybrid working model; employees can be in various locations and connect using different platforms. In these cases, leaders are rightly concerned with achieving impact and connection with their teams – and finding ways to stimulate creativity on projects.
There are also more people involved in the leadership process because information flows more freely. Multiple lines of communication are commonplace; information moves quickly between individuals and teams. That means leaders need more voices to make sure their key messages are being heard.
But this trend also provides an opportunity to collect feedback from employees; about strategic projects, culture and everything in between. When used in the right way, these tools can improve decision making and employee engagement, especially during periods of rapid change. As part of a talent retention strategy, this approach is vital.
A talent management strategy will make a business stronger
In today’s world, there is more for businesses to do in order to attract and retain the best people. But, overall, their success will come down to this: how much they are willing to invest in employee development; and how they can lead teams through change and innovation projects, using new and updated skills.
Investment in competencies, education and flexible benefits is the way forward; to give candidates reassurance but also keep business leaders sharp. A talent management strategy will turn workforce risks into opportunities.
More about Protiviti Top Risks
Protiviti's Top Risks Survey is conducted annually, providing insights into the most pressing challenges organisations anticipate in the near and long term. These findings assist businesses in strategic planning and risk management by highlighting emerging trends and potential threats.
For detailed information specific to the United Kingdom, you can access the UK report here.
