The world has been advancing into an information-rich digital network for more than thirty years now. Digital Technologies are being used from professional profiles to company websites to find out who and what we are for the world outside. There are inevitable complex changes occurring all around giving rise to multiple challenges, the outcomes of which are not yet comprehended by the employers. Nevertheless, these changes needs to be incorporated by the organizations to acquire top talent and be successful.
In this era where creativity and solutions hold great importance, it is desirable that innovations, ideas and complexities are balanced in order to create a culture where the talent thrives. The composition of workforce is also shifting from highly skilled labor to knowledgeable employees which calls for training them to keep them updated with new technologies and processes in order to combat cyber security threats and leveraging efficiencies.
For eg: sites like LinkedIn, Careerbuilder and Monster.com has transformed the way the employers and employees connect. Other sites such as Toptal and Upwork have brought about a change in the contractors’ services globally.
There is a more transparent job market created with the Digital Labor Platforms which has provided people with the ease to go online and find new opportunities. Sites like Glassdoor gives an insight into what employees feel and say about the organizational culture and job satisfaction. These platforms can also help companies to pull digital tools into integrated whole as they are polishing their recruiting and screening techniques. This would also assist companies in putting the right people to the right job while analyzing the skill gaps, mapping a career chart and facilitating the development of next generation leaders. According to McKinsey Global Institute research, businesses utilizing digital labor platforms to their full potential could increase output by up to 9 percent, reduce employee-related costs by up to 7 percent, and add an average of 275 basis points to profit margins.
The workforce needs to be viewed as a diverse entity while planning a new work space or designing a mobile work policy, which would help in understanding and accommodating different work needs and usage of technologies while embracing change.
Transparency is another vital aspect and a buzz-word apart from collaboration because the lack of transparency between leadership and workforce can crumble the culture of an organization. The growth of technology that has brought big data, information on demand and other things into play has also increased the expectation for transparency. But there exists a trade-off when balancing the demand for security and transparency both. Organizations who are sharing the data is increasing the employee engagement and also building trust but this access of information must also be balanced with safeguarding proprietary information along with protecting the personal information of employees. Transparency also comes with a risk and hence needs to be implemented in a planned way or it could lead to devastating impacts on both company and its employees.
Another critical part of a successful talent strategy is to look at everything from a multi-faceted lens because the demography effects everything from building expertise, leveraging technologies to exchanging feedbacks. The assumptions that attempts to label by generation seems a little unfair as they lack the true understanding of complexities.
With the evolution of the workplace which is bringing in new challenges and opportunities, the companies and leaders who are not only understanding and embracing it but also helping their people and culture to sync with it will emerge as rulers. Digital capabilities will determine which companies will create or lose value.