We are living in the era of people. The business landscape has changed and human capital has become the key to achieving success. This was not always the case though – in the 1920s and 30s access to raw materials was essential, from the 40s through to the 60s assets were the deciding factor, and in the 80s and 90s cash was vital. In the 21st century however, people are everything.
This change has coincided with the growth of internationalisation and globalisation. Borders have blurred and leading organisations now operate across multiple countries and continents. In many ways the playing field has levelled and these organisations now have relatively equal access to the resources that once decided business success. This means talent has become the key differentiator in deciding competitive advantage.