To learn more about redefining talent in the workplace, click here to download the full Global C-Suite CHRO study.
The nature of work is changing. Whether it’s the convergence of industries or emergence of new competitors, the demand for digital expertise is increasing, leaving CHROs with the task of helping their executive teams understand the digital transformation impact on the overall workforce, as well as the delivery of HR services.
To equip CHROs with the tools they need to effectively manage and enhance the overall employee experience in the Cognitive Era, the IBM Institute for Business Value developed a recent Global C-Suite report: “Redefining Talent: Insights from the Global C-Suite Study – The CHRO perspective”, consisting of 601 CHRO viewpoints. What findings did the study reveal?
Seeking and Managing Talent
CHROs told us that industry convergence is the single, biggest trend transforming the business arena because it’s providing new opportunities for growth by shifting the focus from standalone goods and services to cross-sector customer experiences. Thus, industry convergence (and technological advances) will directly affect how CHROs seek and manage talent in three ways:
1) “Fish in new ponds” to force many organizations to review their recruitment practices and broaden their company’s appeal by enhancing the job application and selection process;
2) Design employee experiences that attract individuals from diverse backgrounds and encourage them to stay. Such experiences are: providing the right connections to enable employees to form communities, creating workspaces that balance collaboration and personal space, and giving access to simple and convenient technologies to make work more efficient; and
3) Watch out for competitors encroaching on their territory. New players won’t restrict their attention to customers; they will be equally eager to poach highly skilled employees.
Maintaining Competitive Advantage
How exactly are CHROs preparing to enhance the employee experience and manage change more effectively to stand out above competitors? According to our research, they concur with other CxOs in thinking three specific technologies – cloud, mobile solutions and the Internet of Things (IoT) – will revolutionize the way they do business over the next few years.
These three technologies will provide a deeper understanding of employees and would-be employees, including their abilities, individual needs and preferences, and how they collaborate with other people. Ultimately, CHROs will be able to deliver better employee experiences, make their organizations more appealing and increase productivity.
As the talent landscape and companies continue to evolve, CHROs can maintain an advantage by:
• Redesigning the talent acquisition model. Develop creative marketing techniques and provide analytical tools to attract, acquire and onboard a new generation of individuals with rare or unique skills;
• Reimagining the employee experience. Focus on the employee experience as if it was the customer experience, and use analytics to understand different employee segments and their concerns; and
• Rethinking HR services for the Cognitive Era. Consider using cloud-based software, leveraging mobility to give employees information and insights, incorporating social techniques to amplify the “employee voice”, and investigate using cognitive digital assistants to improve employee self-service and enhance the HR function’s decision-making capabilities and organization’s operational efficiency.
Complimentary Download
In today’s rapidly changing digital age, understanding the changing implications of the workforce are central for an organization’s future competitiveness and success. To learn more about redefining talent in the workplace, click here to download the full Global C-Suite CHRO study.
