The Business Times, Singapre: Cognizant Leadership Discuss the Need to Create a Successful Talent Strategy
“In the era of talentism, the employment supply-demand model has changed radically: talent does not need your company; your company needs talent,” writes Jayajyoti Sengupta. “Businesses that fail to craft a solution to the talent challenge, and nurture a culture of learning within their organisation will be on the wrong side of the digital talent equation,” continues Anbu Muppidathi. Excerpts:
The Asia-Pacific's digital story is all about growth - massive growth. Digital is the key to addressing the wants and needs of current and future online consumers, who will represent half of Asia's population by 2020, up from one-third today. Many organisations in the region have already formulated their digital strategies and adopted innovative technologies to become truly transformed businesses.
However, many lack a talent strategy optimised to support their digital business and technology plans. There are three key action items that can help business leaders apply a successful talent strategy:
- Development of depth charts, just like those used by sports teams to assess their talent.
- A full understanding of existing talent, informed by a wide variety of data sources.
- Encourage employee engagement and cultivate an entrepreneurial spirit.
Talent acquisition and upskilling in the age of digital transformation is a structural employment problem that will require bold changes to resolve. Finding a solution depends on the acknowledgment that - as Klaus Schwab, executive chairman of the World Economic Forum, said – ‘talentism is the new capitalism’.”
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