This morning, a Reuter’s article confirmed that the Tata Jaguar and Land Rover acquisition is now complete. When I think of a Jaguar, I still think of a British product even though – since my childhood – the company has been owned by Ford Motor Company and now by Tata Motors Ltd. To me, this is another reminder of the global nature of today’s business environment.

The important question, however, is how are organizations adapting to globalization and the rapidly increasing pace of change? A recent i4cp and HR.com survey with 132 respondents showed that “seven out of 10 respondents said their organizations have been, at best, moderately successful” at managing change. Less than one third of respondents placed their organizations in top achievement categories when it comes to managing change. (4) Considering that IBM research conducted with 1,130 global business leaders suggests “the Enterprise of the Future sees change within the organization as a permanent state,” (2) the i4cp survey results expose a need for future growth.

Some of the negative effects of continuous change involve burnout or reduced clarity about organizational objectives. Yet, efforts to deal with change can rely on performance management practices. According to the report The Enterprise of the Future, “values and goals provide alignment and cohesion.” The research also confirms the value of strategically placing “charismatic leaders” and using “differentiated rewards” for high performers. Enterprises of the Future do not leave change management to chance and make sure that it is formalized throughout the organization and well planned.(2)

The talent shortage, however, is impacting globalization efforts. Participants in the IBM study “rated insufficient talent as the top barrier to global integration.” One CEO was even quoted as saying that “We’re making acquisitions for the people, not the assets.” (2)

This brings us to the next important question; how are organizations overcoming obstacles to success?

IBM identified three critical components of “an adaptable workforce” in Unlocking the DNA of the Adaptable Workforce. These components involve knowing the skills your employees possess currently, understanding the skills that will be required in the near future and building an environment in which all employees can collaborate, as necessary. (3) Success in these areas implies that reliable data related to individual skills, competencies and goals will be collected and will be accessed by the necessary decision makers.

But what about the challenge of attracting talent in the first place? Laura Horsley (director of communications at BOMA International) suggests in the Building Owners and Managers Association magazine that internship and mentoring programs along with marketing the availability of training at an organization can help. (1) Meanwhile, Phil Mobley (vice president of Kingsley Associates) writes that clarity about “the organization’s purpose and core competencies” must precede the search for talent. (5) Some Enterprises of the Future are using CSR reputation “to attract and retain employees.” (2)

References:

1 Horsley, Laura. “The battle for talent HEATS UP.” BOMA Magazine, May/June 2008, pp. 61-64.

2 IBM. The Enterprise of the Future. New York, NY: IBM, 2008.

3 IBM. Unlocking the DNA of the Adaptable Workforce. New York, NY: IBM 2007.

4 Institute for Corporate Productivity. “TrendWatcher: Having a Hard time Managing Change? You’re Not Alone” [www.i4cp.com]. May 16, 2008.

5 Mobley, Phil. “The Right People.” BOMA Magazine, May/June 2008, pp. 69-73.