Businesses will be strong when building a talent ecosystem
Digital Strategy

Businesses will be strong when building a talent ecosystem

A 2018 report from Cornerstone OnDemand and International Data Corporation (IDC) state that the speed of innovation in an organization is directly related to how they manage talent, their internal evaluation process, and how employees refer to their working environment. But to successfully attract talent in the digital world, organizations must think beyond traditional approaches.

Refining previous tactical recruiting initiatives will no longer work. Instead, the labor market calls for a new way to find and source talent by adopting collaboration, sharing, and building community.

Talent commitment problem

When implementing Digital Transformation projects, businesses often faced with challenge to help employees grow or at least keep pace with technological changes that directly affect their work. In addition, as digitization becomes more mature, it becomes more difficult to find experts with the skills to meet constantly changing needs and, in many companies these responsibilities have been delegated to younger or new employees. However, young and talented people often demand high standards on working conditions and in order to keep them together to develop in long term, it is necessary to have a suitable talent development strategies.

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Digital Strategy 17 March, 2022

Companies with better Digital Transformation processes often implement continuous and effective communication and training processes with employees to promote interaction, instead of traditional yearly evaluation processes. In addition, there is a direct impact between employees and a collaborative work environment that encouraged to develop and apply. The gradual removal of employee resistance to change is consider as an important aspect of this process. Internal training program should pay special attention to help overcome difficulties caused by ineffective application of digital technologies that affect employee’s working productivity (1).

Talent ecosystem

A more advanced approach for talent management rooted from system theory and design thinking to create a recognized talent ecosystem built around delivering a better employee experience and adapting faster to business needs. Participants will be able to connect talent tools, processes, and programs with changing business priorities and deliver a more engaging employee experience. Although the concept of a talent ecosystem is not entirely new and has been successfully applied, but the rise of the experiential movement combined with emergent technologies for experience-centric to drive key interactions – forced many companies to move in this direction to make the job easier and better for employees (1)(2).

Figure 1: The relationship between business strategy and talent development strategy

Key features of the talent ecosystem are cross-departmental cohesion, the degree of association and interdependence allowing for a wide range of employee experiences to be customized around different HR segments according to the needs and desires of the business in each industry. Just as in systems theory, a system can be more than the sum of its parts by taking advantage of interdependent relationships within the system. Similarly, the talent ecosystem adapts to business needs (or the needs of HR departments) as they evolve, ensuring other parts of the system reflect those needs as well. The components that help link the talent ecosystem together include technology, process flexibility, and standardized ways of working. All will bring more overall value than just the basic steps in talent management, such as acquiring, deploying, developing, attracting, and retaining talent (3)(4).

Talent sustainability is one of the capabilities of modern businesses to continually attract, develop and retain the people with the competencies and commitment required for the success of the current and future organization (1)(5).

Figure 2: The effectiveness of talent management with business performance

With the benefits mentioned above, the need to participate in the ecosystem of high-quality workforce growth quickly. To adapt market’s innovative thinking, businesses are demanding new skills and increasing the use of online platforms to reach talent. Building and implementing an effective talent management system in line with business needs is a long, enduring process. An organization’s talent strategy should be incorporated into its business strategy because HR talent deployment is a key factor to business success. Finally, a positive talent mindset needs to be incorporated into the organizational culture. With such a cultural value, coaching and mentoring are not only encouraged but become a natural part of leader’s daily work, and continuously shared knowledge helps businesses develop more and more sustainably.

 

 

Nguồn tham khảo:
(1) Mercer. 2018 Building a Talent Ecosystem
(2) Talent quarterly. 2020 What Is The Talent Ecosystem?
(3) McKinsey. 2016 The new tech talent you need to succeed in digital
(4) McKinsey. 2020 HR says talent is crucial for performance—and the pandemic proves it
(5) Deloitte. What is a Tech Talent Ecosystem?

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