Talent must be viewed in terms of people “who deliver impact at every level”, Jacqueline Davies, head of talent, performance and resourcing, Barclays Global Retail told a London audience on Tuesday.

Instead of putting the focus solely on high potential leaders, “value” is what organisations must look for to ensure future success, Davies urged in a talk to the Human Resources Forum.

Talent should be redefined as the best in breed, the most excellent people involved in the activities with the most impact on the business, she said. And instead of thinking of talent purely in terms of individuals, consideration must also be directed at creating talented organisations.

Davies added: “To withstand volatility, we need to build talented organisations and talented individuals.”

She went on to say that the current challenge in resourcing was “not about the war for talent, but the capability crunch” as skills needed in her business could not be found. “The skills aren’t there. I am seriously concerned about the lack of capability.”

Davies said she didn’t think today’s educational institutions could deliver the capabilities needed. “They’re trying, but HR will have to grab hold of that debate and do something about it.”

Davies is the author of The Truth About Talent: A Guide to Building a Dynamic Workforce, Realizing Potential and Helping Leaders Succeed.