Right human capital talent creates the most value
By Kamal Dutta
Even as more and more people are joining the workforce globally, an increasing number of organisations across sectors are witnessing skills gap due to rapid technological advancements. The Future of Jobs report by the World Economic Forum had recently noted that no less than 54% of all professionals will require reskilling and upskilling by 2022. Professional roles are evolving, driving the need to change the composition of talent in organisations. The ability to do this quickly and cost-effectively is called ‘talent agility’. It considers all the levers needed to build a robust talent pool, including learning and development, acquiring and retaining talent, and employee engagement.
Historically, companies saw strategy as the most crucial factor for success, but now they realise that retaining the right human capital talent creates the most value. To respond to the needs of the industry, leaders must enable employees to learn new skills and work in different capacities.
A culture of continual learning: Technology is changing, as are business processes, workflows and requirements. To stay on top of such a fast-paced change, leaders must focus on encouraging a culture of continual learning. Organisations must constantly assess the strengths and weaknesses of their workforce, and devise relevant learning-based interventions.
Opportunities for growth, learning: Professionals look for opportunities to grow and develop, and they seek out companies that would help them in their pursuit of excellence. Deploying a continual training process can help achieve this goal. Moulding the employee mindset as per the goals of the organisation can also drive a significant increase in quality and performance. Keeping employees engaged can bolster talent agility and help companies develop a steady talent pool.
Increasing employee engagement: Keeping two-way communication channels open can help improve employee experience and retain the best and the brightest of people. Companies that are effectively boosting talent agility are the ones that are nimble in their approach and work out customisable workforce solutions. They are flexible enough to be open to non-traditional workforce models. Organisations must invest in a learning model that is personalised as per the needs of the employees.
Agility translates into success: A lot of organisations globally are making continual learning and talent development as their business strategy. And those that provide such opportunities transform into ‘employers of choice’, which, in turn, makes it easy for them to attract and retain top talent. And these are the organisations that achieve business agility, which is a sure-shot way to succeed in today’s ever-evolving business landscape.
The author is MD India for Skillsoft