Transforming business through Talent
The business of managing people has come a long way – From Welfare Officers in 1890’s to a “Strategic HR” in recent years. The job of an HR professional has been compounded by a increase in non-traditional career paths, increased appetite for risk and diverse skill-set. Talent Transformation is taking the workplace and HR strategies by storm. Companies have begun to realize and recognize employees as their only appreciating assets. The huge trends in talent transformation is on Retraining and reskilling workers in the age of automation, Personalization, contingent workforce, learning anytime – anywhere, digital HR and all this resulting in employee value proposition.
Retraining and reskilling workers in the age of automation– By 2030, according to the recent McKinsey Global Institute report, roughly 14 percent of the global workforce may need to switch occupational categories to digitization, automation, big data, analytics and advances in artificial intelligence disrupting the world of work. The kinds of skills & talent a company requires is already shifting which is having a profound implications in the career paths individuals will need to pursue. Organizations increasingly are investing in retraining and “upskilling” existing workforce as an urgent business priority. In my experience, to train the future of workforce too much of traditional training goes off the rails as it relies too heavily on theory versus practice & because it delivers no clear pathway to new age of work, new age tech capabilities that an organization wants to build. The global youth of today is keen to work for an organization that is willing to invest in their career and helps the individual stay relevant in the current changing world.
“By 2030, according to the recent McKinsey Global Institute report, roughly 14 percent of the global workforce may need to switch occupational categories to digitization, automation, big data, analytics and advances in artificial intelligence disrupting the world of work”
Learning is a journey– Today’s age learners want a self-directed learning that focuses on enabling self-learning through interactive, simulations and augmented reality. Gamified learning modules with a combination of internally developed and externally aggregated learning content ensure that engagement is at the centre of learning. Learning is not a 2-day activity any more but it is a Journey. Learning anywhere – anytime allows autonomy to the employee. This means, employees can craft their own career path and learning journey using the skills to job mapping that the organization identifies.
Employer Branding – The focus is completely shifted to attracting prospective employees through the company’s employer branding strategy and leveraging technology to identify a talent pool. There is a huge focus on building a digital employer brand on social media channels to continuously engage potential/passive candidates. Recruiters are no longer aggregators of people, they have to re-orient themselves to build the employer brand.
Personalization– We are living in a world where thanks to technology everything is personalized. Your shopping, expression and experiences are personal. The new workforce is looking for personalized experiences as part of rewards & recognition where they feel transformed into celebrities in their own social circle. This personalization is providing them with a distinct individuality which can be instantly shared on global platforms.
Digital & Analytics driven HR– The world is moving to digital and HR is not left behind in leveraging technology for selection, onboarding, learning, assessments or succession planning. This investment and its returns have huge bearing on business and hence predictive analysis & digital is becoming a new mantra for enterprises. CxOs are weighing investment decisions in their employees and relying on measuring ROI on human capita through data and digital.
Organization can accelerate growth by enabling strategic talent transformation in all the functions of Human resource functions. There is a new metamorphosis that is changing the talent landscape and that requires a new force of strategy for talent retention & transformation to succeed in a VUCA world.
Author- Sahana Shankar, AVP & Head HR- Paladion Networks