Most major corporations realised long ago that implementing a successful business strategy requires an equally strong talent strategy. The legal industry, which has long understood the value of business strategy, is learning from the corporate world and recognising that the two strategies must be intertwined. After all, we're in the talent business, so a law firm without a talent strategy is like an asset manager without an investment plan.

What's the difference between a business strategy and a talent strategy? A business strategy lays out organisational goals in business performance terms; a well-designed talent strategy finds and develops the right people who can do that work and actually achieve those goals within an organisational structure.