In our recent survey, 71% of business leaders in Asia-Pacific report building new businesses as a top-five strategic priority for their companies. They also expect 28% of their future revenue to come from the new businesses they build in the next five years.
For these corporate ventures to succeed in today’s digital environment, they require a deep bench of tech talent, particularly in skillsets such as automation, cloud, customer experience, cybersecurity, data management, DevOps, and platforms and products. It is also critical to consider leadership talent. Leading a corporate venture requires a blend of entrepreneurial and management nous. In fact, developing robust people and talent strategies are among the highest-value actions a business can take.
When it comes to assembling tech and leadership talent to build corporate ventures in Asia-Pacific, we observe three key factors: finding an experienced CEO, adopting a flexible recruitment strategy, and providing beyond compensation…. The most successful CEOs of corporate ventures display four key attributes: customer-centricity, a calibrated risk appetite, a willingness to learn and pivot, and the knack for hiring the right talent….
From ‘Getting the Talent Strategy Right: Critical Factors for New Businesses’, McKinsey & Co
