Employee loyalty comes at a premium amid talent war, says book

PTI Posted online: Sunday, Apr 06, 2014 at 0000 hrs
New Delhi : A new leadership style will be required to retain talent in the future as employee "loyalty" comes at a premium amid intense competition, says a book.

Presenting the case for 'globalisation 2.0' where Asia is to dominate the global economy, a book by global management consultancy Hay Group has said that such a scenario would transform the global war for talent.

'Leadership 2030: The Six Megatrends You Need To Understand To Lead Your Company Into The Future' has been penned by Hay Group consultants Georg Vielmetter and Yvonne Sell.

"Loyalty will be at a premium. Talented employees and future leaders will be able to take their pick from among employers the world over, as competitors spring up through out emerging regions to challenge established Western corporations," the book, released recently, said.

Further, it noted that only the most compelling and inspiring leaders will be able to attract, retain and engage the best people in a talent market devoid of loyalty.

According to Vielmetter, the future would demand a new style of leader -- one who instinctively understands the subtleties of leadership, "and knows that he or she cannot navigate the complexities of the business environment alone".

As per the book, one of the mega trend is 'globalisation 2.0' referring to the dominance of Asia in the global economy as well as emergence of a new middle class.

Digitisation, demographic change, technological convergence, environmental crisis, individualism and value pluralism are the other mega trends.

The book also makes a case for the concept of 'bounded autonomy' where by autonomy comes with clear direction and defined boundaries to empower as well as guide employees in an individualised and digital world.

"Increased complexity will demand tighter management and co-ordination, yet employees will want greater flexibility and control over their work and lifestyle," it noted.

Hay Group India's Director and Leadership & Talent Practice Leader Mohinish Sinha said that to identify how leaders must operate in this transformed landscape, there is a need to first understand the megatrends that are bringing about change.