Consumer Analyst Group of New York (CAGNY) 2017 revealed consistent themes across companies. Growth was the underlying strategic focus and it seems clear that growth will be maximized at the intersection of consumer trends, technology, and operational efficiency. All of this has significant talent implications.
Russell Reynolds Associates recently spoke with global leaders across CPG companies discussing how to Navigate Uncertainty in 2017. The CAGNY discussions confirmed that CPG companies must think broadly about their hunt for talent and look beyond the usual targets. They need to attract and retain talent with a strong growth orientation, transformational experience, and a disruptive mindset to create a resilient company that will remain relevant in these uncertain times.
Invest in roles that gather and translate consumer insights into growth drivers for the business.
Embed digital talent across the organization, and upskill talent in traditional roles to become more digital-savvy.
Build innovation and R&D capabilities – deploy top talent to these teams and ensure they are commercially focused, grounded in insights and aligned with business strategy and long-term goals.
Pursue any and all opportunities to simplify and streamline in order to maximize agility.
Tackle new challenges by creating new roles that integrate functions across the organization (e.g., the Chief Growth Officer and Data & Analytics officer).
Ensure you have the best talent to create and lead transformational integrated supply chain operations.
Invest in data and analytics capabilities, and develop talent who can partner within the organization to turn data into actionable insight.
Work with CIOs and heads of technology to invest in practical and differentiating technological capabilities (e.g., advanced analytics and AI).
Ensure that technology leaders are commercially minded and partner well with Marketing, Finance and Supply Chain.