Talent development is challenging for all companies. In a recent survey of CEOs, one in four said that they were unable to pursue a market opportunity, or have had to cancel or delay a strategic initiative because of talent issues. One in three is concerned that skills shortages have impacted their company’s ability to innovate effectively.
Water’s Street recent research on employee engagement in joint ventures demonstrated a clear linkage between engagement and retention.
For joint ventures, talent development can be even more challenging. Joint ventures – especially business JVs – are often small, particularly in the first years of their existence, and certainly in comparison to their parent companies. In addition, many joint ventures have limited scope, focused on a specific geography, part of the value chain, or product set. Considering the number of employees in joint ventures globally, this leaves a large segment of employees who, while they enjoy some of the additional benefits of being in a JV, also may miss out on development and growth opportunities that their peers in wholly-owned organizations take for granted.
Water Street helps joint venture CEOs, management teams, and Board address the unique organizational and talent issues that JVs introduce. Our services include:
We have worked in recent years extensively with Water Street to professionalize our JV management practices and practitioner cadre. We have found that their external perspectives helped us to drive real value from our JVs.
As a JV CEO for over 10 years, I have come to rely on Water Street Partners as a prime source of advice for our JV. Their depth of knowledge and understanding of joint ventures is unparalleled. Our relationship with Water Street has truly had a positive impact on our business.