Talent management is now a top priority for CEOs, according to research from PwC.

The research shows 83% of the 1,200 CEOs surveyed plan to change their firm’s talent management strategy on a global scale over the next 12 months and almost a third (31%) says these changes will be major.

Risk management and investment are the next most pressing priorities, with 77% and 76% of CEOs, respectively, anticipating changes in these areas. In last year’s survey, risk management was the number one priority for 85% of CEOs, followed by investment (81%) and talent (78%).

Michael Rendell, head of HR consulting at PwC, says: “As we move out of the downturn, CEOs are putting the focus firmly on their people. Competition for talent is intensifying as recruitment activity picks up in some sectors and there are increasing difficulties finding staff with the right skills. CEOs often speak of the importance of talent, but there’s not enough evidence of action being taken. The survey findings are encouraging, suggesting talent will be reflected more in company strategy. HR professionals need to help CEOs see what can and should be done.”