The automation and digitization of business continues at a breathtaking pace, sending traditional business skill sets into obsolescence faster than ever and disrupting talent market dynamics. The escalating demand for new skills will disqualify large portions of the workforce from current positions. In fact, a recent McKinsey study shows that up to 375 million workers — roughly 14% of the global workforce — may need to prepare to change what they do. And in a survey of business executives, McKinsey found that “62% of executives believe they will need to retrain or replace more than a quarter of their workforce between now and 2023.”
For the first time in history, the workforce spans five generations, including millennials and boomers. The way I see it, it’s imperative to reimagine the education system and to clearly identify the skill sets. These skills include “soft skills,” such as leadership, creativity, problem-solving, communication and related talents that your company needs to build success in the digital economy. Skilled workers are the engines for growth, representing the “new currency.” Technology is the tool you need to manage it all, keeping your talent bank filled and balanced.
See And Be Seen
Advances in IT, including artificial intelligence (AI) and machine learning (ML), mobile, augmented reality (AR) and gamification simplify and accelerate all talent management processes, from recruiting and onboarding to organizational strategy and culture.
Global platforms, such as LinkedIn, CareerBuilder and Monster.com, and regional platforms harness big data analytics to match existing workforce needs with available talent. Job candidates are more visible to you, and your opportunities are more visible and accessible to the marketplace.
Tech can also help you leverage mobile portals. According to Cisco, 20% of IP traffic will be from mobile by 2022. Additionally, you can expect to see 1.5 mobile-connected devices per capita by then. Companies should consider employing mobile solutions to find talent. By integrating technologies like AI, you can leverage skill-matching algorithms, chat boxes and other cognitive computing in your campaigns on mobile. This will help you reach, recruit and hire the right people faster.
Engage And Motivate
I find that the best-managed companies have this in common: engaged employees. The global aggregate of Gallup data collected for three years (2014-2016) across 155 countries, published in the 2017 “State of the Global Workplace,” indicates that only 15% of employees worldwide are engaged in their jobs. Leading the world in the percentage of engaged employees are the U.S. and Canada (31%) and Latin America (27%). When employees are engaged, they are highly involved in and enthusiastic about their work. This drives performance and innovation and moves organizations forward.
Model EX On CX
Key findings from Gartner point to customer experience (CX) as the “new marketing battlefront.” Your key competitive differentiators will evolve from focusing on and improving each step of the buyer journey. The employee experience is a critical factor, and companies with highly engaged employees will win. Because the employee experience (EX) fuels customer experience (CX), it makes sense to build a better experience for your workforce by mirroring your interactions with consumers.
Big data, supported by AI, data science and predictive analysis make it easier to learn more about audiences and customers, leading to hyper-personalized experiences. Technology, automation and artificial intelligence make the hard work of marketing easier, freeing us to focus on strategic thinking and creating a memorable experience for our audiences, employees and customers. The human touch in marketing remains essential. Ideally, we will use technology to enhance marketing processes, not to replace the people behind them.
Create A Culture Of Continuous Learning
So, how do you stay relevant in this fast-changing workplace? Develop a hungry mind, and never stop learning. Promote a flat cross-functional organization where individuals can learn from and enrich each other. Create an atmosphere that encourages participation and boosts motivation. Devote extra effort to training. Provide employees with the right tools, environment and skills to adapt to emerging technologies.
Whether reskilling (retraining) or upskilling, AI, machine learning and related smart technologies are the ideal tools for building on existing capabilities to meet future needs in support of business goals. Consider your employees like you would your customers. Put the same effort and detail into employee acquisition and motivation as into mapping customer journeys.
Get Your Game On
Make learning fun. Use games! Explore gamification platforms, and leverage social media to create simple educational challenges. Contemporary workplace learning can also include strategies such as peer learning, with employees tapping into subject matter experts within the company to share knowledge — a great way to capitalize on today’s multigenerational workforce.
Add Human To Digital For A Win-Win
At the heart of any successful business is its people. Even as digital expands its reach, every innovation and organizational change is powered by people, supported by technology. While advancements in information technology, predictive analytics, artificial intelligence and machine learning in talent management processes enable you to perform traditional practices more easily and within a shortened time span, the real challenge is to use these powerful technologies in an ethical, fair-minded way. That leads to more transparency, enhanced equanimity and the best possible outcomes for everyone. It’s win-win.
