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Webinar – The Evolution of Digital Talent: Implications for Talent Development
The document discusses the evolution of digital talent and its implications for talent management, highlighting the need for organizations to adapt to changing skill requirements in a digital age. It notes a significant gap in soft digital skills among employees, which affects organizations' competitiveness and emphasizes the importance of continuous learning and development strategies. The document also explores examples from companies like ANZ Bank and Publicis Groupe on how they are rethinking talent development and organizational structure to meet modern challenges.
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Webinar – The Evolution of Digital Talent: Implications for Talent Development
- 1. The evolution ofdigital talent : Implications for Talent Development
- 2. • Formative yearsin the temple city of Bhubaneshwar, Odisha. • Made a switchover to corporate life after a distinguished stint of nearly 2 decades in academia. • Extensive experience in teaching, leadership training, research and consultancy in diverse areas of HR. • High on learning agility and curiosity. • Passion lies in the application of human constructs at the workplace to achieve enhanced people advantage. • Champion for diversity initiatives. • Speaks and writes in areas of Culture, Organizational Development, Change, Learning and Leadership. About our guest speaker Dr. Swatee Sarangi Head - Capability Development, Corporate HR at Larsen & Toubro
- 3. What did ANZBank do to become more flexible in responding to technology-based rivals? *Source: The Digital Talent Gap, Capgemini and LinkedIn ANZ Bank's Australian arm aims to leave the division with 150 teams that will look more like start-ups than traditional parts of a large-scale bank
- 4. Which organization hasbuilt an AI platform called Marcel (in collaboration with Microsoft) to connect all 80,000 employees, across 200 disciplines in 130 countries, to provide more seamless communication, collaboration, and anticipation of client needs? *Source: The Digital Talent Gap, Capgemini and LinkedIn Publicis Groupe unveiled Marcel - named after Publicis Groupe founder Marcel Bleustein-Blanchet - AI-powered innovation that will accelerate transforming the organization from a holding company to a platform
- 5. Which is thecompany that is so obsessed with customer delight, that it clocked the longest ever customer service call ever at 10 hours and 43 minutes? *Source: The Digital Talent Gap, Capgemini and LinkedIn Answer: Zappos. Zappos employee Steven Weinstein, shown here in the retailer's Las Vegas headquarters, holds the record for longest Zappos customer service call.
- 6. The evolution ofdigital talent : Implications for the Modern WorkplaceRemnantsoftheindustrialera Realitiesofthedigitalage Truly flexible workShift timings and fixed working hours Productivity focusCompliance focus Defined career paths Shape your own career Sharing is anathema Focus on Hierarchy Sharing is caring Focus on connections Premium on ‘know-how’ Premium on learning agility *Adapted from: The Future Organization Implications for Talent Management Planning for Agile work Encourage autonomy and a fail-fast environment Collaborative leadership and fluid ways of working Provide flexible career development options Proactively encourage Growth mindset Planning for Linear work Provide direction and discourage risk-taking Command + control leadership and pre- defined workflows Tough to shake up Fixed mindset Invest in structured career development
- 7. The state ofdigital talent management 29% of organizations agreed that the digital talent gap is hampering their digital transformation programs and that their organization has lost competitive advantage because of a shortage of digital talent. of employers say that their organization lacks employees who possess soft digital skills than hard digital skills of employees believe their skill set is redundant now or will be in the next 1–2 years. 54% 59% The digital talent gap is widening The talent gap in soft digital skills is more pronounced than in hard digital skills *Source: The Digital Talent Gap, Capgemini and LinkedIn Employees are anxious
- 8. The state ofdigital talent management 58% of digital talent are even investing their own time and money, most commonly to be on a par with their colleagues on the required digital skills. of digital talent say they are willing to move to another organization if they feel their digital skills are stagnating at their current employer. of digital talent are likely to gravitate towards organizations that offer better digital skill development. 60% 55% *Source: The Digital Talent Gap, Capgemini and LinkedIn Employees who want to excel are looking beyond their organizations’ L&D There are skill redundancy fears and lack of faith in upskilling efforts Which could in turn trigger attrition
- 9. The missing link:Why are soft digital skills essential today? *Source: The Digital Workforce of the Future, LinkedIn Inward focus Boxed and siloed thinking Unique POV doesn’t exist Unaware of key trends Learning agility missing Inability to manage change Inability to derive data-drive insights Unable to connect the dots Lack of emotional intelligence Comfortable with status quo
- 10. Success profiles ofdigital talent: Soft digital skills Passion for learning Customer centricity Collaboration Data driven decision making Comfort with ambiguity Organizational dexterity Change management Entrepreneurial mindset There is a gap between what organizations need and the proficiency of their employees in almost all soft digital skills *Source: The Digital Talent Gap, Capgemini and LinkedIn
- 11. However, boiling theocean won’t cut it for behavioural skills *Source: The Digital Talent Gap, Capgemini and LinkedIn A defined talent strategy that Meets both business objectives And the needs and preferences of digital talent Is critical for sustainable business transformation
- 12. Me Time Digital Talent Millennials GigEconomy BYOD Work from Anywhere Tech Savvy Flexibility Changing Landscapes Digital Workplace Artificial Intelligence Machine Learning Deep Learning Internet of Things Analytics Digital Augmented and Virtual Reality
- 13. Average lifespan ofS&P 500 companies The disruptive force of technology is killing off older companies. The average age of a company listed on the S&P 500 has fallen from almost 60 years old in the 1950s to less than 20 years currently. Disruption by companies like Amazon, Alphabet and Apple today is causing the trend to accelerate even more. Source: Credit Suisse Technology Disrupting the Corporate World
- 14. Dimensions of theDigital Workplace
- 15. Focus on Productivity,Performance & Teams
- 16. Leveraging Digital ThroughChange Management Awareness Agility Adaptability Alignment
- 17. Resisting Change Controlling Change Embracing Change Changingthe Way We Change
- 18. Digital Talent Imperatives CustomerCentricity Learning Agility Collaboration Data Driven Decision Making Organizational Dexterity Comfort with ambiguity Entrepreneurial Mindset Change Management Soft Digital Skills Cyber Security Cloud computing Analytics Data Science Big Data Innovation & Design Thinking User Interface Design Hard Digital Skills
- 19. Closing the skillsgap: Building talent intelligence for soft digital skills *Source: The Digital Workforce of the Future, LinkedIn Grow: Build a system of continuous learning so your employees’ skills grow and remain relevant. Talent Intelligence for soft digital skills requires understanding specific skill sets of employees in the context of digital, and using data and data analytics to enhance proficiency levels of those skills for critical talent pools. Identify skills the organization needs Build Talent Intelligence If skills are complementary to existing and easy to scale Build 1. Evaluate competencies and needs 2. Personalized and ongoing learning plans If niche, emerging, in-demand skills are required Acquire: 1. Position yourself as an attractive employer 2. Pipeline and drive continuous engagement
- 20.
- 21. Robust Assessment Process Comprehensive Talent Development HowDoes L&T Approach Talent Development
- 22. Lead Self Enhance personal effectivenessand performance Lead Others Build relationships to channelize team efforts Deal effectively with conflicts Sel f Others Lead Business Set organizational direction and foster alignments Business Lead Change Transforming business, cultures and creating better processes by gaining acceptance and commitment Change Holistic Development Dimensions of Talent Development
- 23. Inspiring Results Inward, outwardand forward looking leadership Collective leadership Millennial leaders Digital Mindset Creating Digital Leaders
- 24. Key Implications… 1 Movingat the Speed of Change 2 Illusion of Value 3 Getting Outside the Bubble 4 Building Strategic Partnerships
- 25. Changing Paradigms inTalent Management Piecemeal Holistic Standardization Customization Conventional Innovative FlexibleRigid Siloed NetworkedNetworked
- 26.
- 27. To participate inthe study: Knol.ly/learning Our coordinates: swatee.sarangi@larsentoubro.com subramanian.k@knolskape.com
Editor's Notes
- #3 Details: https://www.smh.com.au/business/banking-and-finance/anz-bank-restructure-to-create-150-startups-20170906-gybxr8.html
- #4 Details: https://www.smh.com.au/business/banking-and-finance/anz-bank-restructure-to-create-150-startups-20170906-gybxr8.html
- #5 Details: https://www.smh.com.au/business/banking-and-finance/anz-bank-restructure-to-create-150-startups-20170906-gybxr8.html
- #6 Details: https://www.fastcompany.com/40577293/publicis-unveils-long-awaited-details-on-new-ai-platform-marcel http://www.publicisgroupe.com/en/news/press-releases/publicis-groupe-unveils-marcel
- #7 Based on the above evolution these are the key things to pay attention to… Truly flexible work The first two items above along with “focusing on outputs” comprise this idea of flexible work, that is working anytime, anywhere, and being evaluated not by how many hours you sit in a chair but by what you produce. There is no longer a need for most employees to work from an office or to work 9-5. Unilever is doing a great job of this where they are rolling out this concept of (what they call) “agile work” to their 175,000+ employees around the world. Aetna and American Express are among other organizations leading the way for flexible work. The future employee will only work in this way. Use any device We’re already starting to see this with BYOD but gone are the days of company sanctioned phones and computers. Instead, the future employee will be able to use any device they chose to get their jobs done. Companies like Ford, IBM, and Intel have been among those leading the way in allowing their employees to use many personally owned devices for work. The death of the “ladder” and customized work When you start working for a new company usually you start off at the bottom of the proverbial totem pole. In other words you begin as a sales coordinator, then a sales manager, senior sales manager, sales director, and so on and so forth. You have to climb the ladder for a few years in the hopes that one day you will reach a position that you are happy with. However with the freelancer economy, collaboration platforms, and new management approaches; employees are now starting to shape their own career paths and how they actually work. Companies like Deloitte offer something called the Mass Career Customization Program which allows employees to change their work preferences twice a year, changes include things such as making a lateral move within the company or selecting how much time an employee wants to spend traveling. Other organizations like Valve or Treehouse allow employees to completely pick the projects they work on or who they work with! Sharing is caring Employees use to hoard information and keep it to themselves. There was no incentive, scalable way, or reason for employees to share what they know with others. Knowledge is power and if employees keep their ideas to themselves then they have the power. Employees were also not encouraged to share or think creatively, their job was merely to show up to work and perform their tasks…that’s it! For the future employee the exact opposite is true. Collaboration platforms are making it easy for employees to share information and organizations are creating incentives to do this ranging from internal incubators to intrapreneuer programs to open innovation programs. Internally, email is also shifting from being the primary form of communication to being the secondary form of communication. Going forward any employee can have an idea that can turn into a new product, service, or opportunity. Shell with their GameChanger program and Whirlpool with their “Winning Workplace” program are just two examples of organizations that are shifting their culture from hoarding to sharing. Anyone can be a leader As mentioned above employees were thought of as being expendable cogs which meant they had no voice within the organization. Once again, collaboration technologies play a crucial role as they give any employee within an organization the chance to be a recognized leader by sharing their ideas, thoughts, concepts, etc. Any employee that is able to build a following with the content they share internally is capable of being a leader; something which was not possible before especially not at the scale that collaboration platforms allow today. Think of how many people have become leaders as a result of social platforms such as Twitter, Instagram, or Facebook, now employees can do the same inside of their companies. Knowledge vs adaptive learning Knowledge is now nothing more than a commodity. To be the world’s smartest person all you need to do is pull out your cell phone where you have access to anything you need to get answers to. This means that for the future employee it’s not knowledge that is the most important but the employee’s ability to learn new things an apply those learnings to new situations and scenarios that come up. In other words, always being able to learn how to learn and stay adaptable. This is far more important and valuable than what you “know.” Everyone is a teacher and a student In most organizations today if you want to learn something you have to sign up for and attend a class that may be a few days or a few weeks away. Today (again thanks to collaboration platforms) any employee can take out their cell phone and record a “how-to” for anything ranging from setting up a modem to programming something on excel. Simply being able to connect employees to each other provides a way for democratized learning and teaching in ways that were never before possible. Thanks to sites such as Udemy, Coursera, and Khan Academy we have the ability to learn what we want to learn and teach what we are uniquely qualified to offer to others. More: https://thefutureorganization.com/evolution-employee/
- #8 Link: https://www.capgemini.com/wp-content/uploads/2017/10/dti_the-digital-talent-gap_20171109.pdf The digital talent gap is widening. Every second organization we surveyed acknowledged that the digital gap is widening. Moreover, over half (54%) of the organizations agreed that the digital talent gap is hampering their digital transformation programs and that their organization has lost competitive advantage because of a shortage of digital talent. The talent gap in soft digital skills is more pronounced than in hard digital skills. More employers (59%) say that their organization lacks employees who possess soft digital skills than hard digital skills (51%). The two soft digital skills in most demand are customer-centricity and passion for learning and the two hard digital skills in most demand are cybersecurity and cloud computing. Many of today’s employees are anxious. Employees are worried that their skills are either already redundant or soon to become so. Overall, 29% of employees believe their skill set is redundant now or will be in the next 1–2 years.
- #9 Link: https://www.capgemini.com/wp-content/uploads/2017/10/dti_the-digital-talent-gap_20171109.pdf Employees feel organizations’ training programs are not hugely effective and those who want to excel are looking beyond their organizations’ learning and development (L&D). More than half of today’s digital talent say that training programs are not helpful or that they are not given time to attend. Close to half actually describe the training as “useless and boring.” Nearly 60% of digital talent are even investing their own time and money, most commonly to be on a par with their colleagues on the required digital skills. Skill redundancy fears and lack of faith in their organization’s upskilling efforts could trigger attrition. Over half of digital talent (55%) say they are willing to move to another organization if they feel their digital skills are stagnating at their current employer. And over half of digital talent (58%) are likely to gravitate towards organizations that offer better digital skill development. Furthermore, digital talent have an easy exit option as they are faced with an abundance of job opportunities. What can organizations do to narrow the digital talent gap? In an increasingly digital economy, those organizations that bridge the talent gap will enjoy a competitive edge over those who don’t. A defined digital talent strategy that meets both business objectives and the needs and preferences of digital talent is critical for a sustainable and successful digital transformation. Based on what we have learned from our research—as well as our experience in the field with our clients—we believe there are six areas organizations should focus on to solve their digital talent challenges: Attracting Digital Talent • Align leadership on a talent strategy and the unique needs of digital talent • Diversify recruiting approach Developing Digital Talent • Create an environment that prioritizes and rewards learning • Chart a clear career development path Retaining Digital Talent • Give digital talent the power to implement change • Provide flexible and collaborative ways of working.
- #11 Link: https://www.capgemini.com/wp-content/uploads/2017/10/dti_the-digital-talent-gap_20171109.pdf
- #12 Link: https://www.capgemini.com/wp-content/uploads/2017/10/dti_the-digital-talent-gap_20171109.pdf
- #14 Forty-nine of the world's largest tech companies in 2017 hail from the United States. Despite pressure from Asia, American companies dominate the tech scene. According to Forbes, Apple is not only the top Tech company, rather it ranks 15 among the top companies in the world. Apple being in the top, Barclays thinks another company that’s on its halfway to a $1 trillion market cap Amazon. In earlier 2017, Amazon beat Apple to achieve $1000/share, which the initial phase for the 1T $ race. How can be it interesting? 1. A single company with a market cap of a trillion dollars would outdo 180 major and minor economies of the world out of the 195, in terms of GDP. 2. Laid end-to-end, a trillion-dollar worth of notes would stretch further than the distance from the Earth to the sun Analysts have said Apple’s share need to touch $194 to reach the $1 trln, currently trading at $175
- #17 Change Awareness is a company’s ability to redefine itself as necessary. This contextual focus is critical to innovation – the right product at the right time. Good change awareness practices include scanning the environment for opportunities, focusing on emerging trends and planning for the future. An organization with good change agility has the capacity to stretch when necessary and quickly shift resources to the place they will make the most difference. Adaptability refers to an internal focus on appropriately analyzing problems, assessing risks, and managing the reactions of employees to ensure that your company can sustain the day-to-day business while reacting in a timely and appropriate manner to self-initiated and market-dictated change Change Mechanisms should encourage clear goal alignment across functions, the ability to integrate a change into existing systems, accountability for results, and reward systems that reinforce desired change behaviors.
- #18 Resisting Change For obvious reasons, resistance to change is futile – But still the go to reaction when we encounter change since it is in our DNA to do so. Reasons for resistance to change include: Fear of the unknown/Threat of redundancy Lack of proper communication Feeling of incapability to adapt Lack of trust in self/others Controlling Change Earlier the environment gave signals of change. For a long time, managers who could perceive the oncoming winds of change could deploy risk management/mitigation strategies to succeed. More powerful entities could use resources to hold back change (e.g. Cigarette mfg. co. Philip Morris could threaten to sue the entire National Govt. of Togo to reconsider changing it’s laws about cigarette packaging) if not actually enforcing it. But now it is a fact that 70% of Change Management efforts fail. Embracing Change Disruptive Change is not just an inevitable constant but an opportunity in disguise. Change ready organizations ride the wave of change to rise higher, move faster and stand stronger (e.g. The internet led to the rise of aggregators. Aggregators not only used the Internet to connect buyers and sellers, but also monetized data, thereby augmenting revenue streams)
- #20 Link: https://business.linkedin.com/content/dam/me/business/en-us/talent-solutions/cx/2017/PDFs/digital_workforce_future.pdf
- #25 Business models are adapting to volatile marketplace dynamics, while technology accelerates the pace of workforce changes. McKinsey estimates in a recent report that in 60 percent of jobs, 30 percent of activities will be automated in the next few years. This change may be psychologically threatening to the workforce, but it can create headroom to add customer value in new ways. Our workforce will require rapid skill redevelopment; are we ready to provide it? Moving at the Speed of Change Annual cycles in most industries and businesses are helpful but not sufficient to keep pace with these changes. Executives vigilantly watch competitive shifts and adapt their strategies and tactics rapidly. Many L&D functions are not prepared to shift at the same rate businesses are changing. They conduct a traditional needs analysis on an annual basis and build plans that address identified needs. Are you moving fast enough to keep pace with the needs of the business? Illusion of Value In many cases, learning leaders build sizable L&D teams who continue to design, develop and deliver, based on what has worked in the past. These approaches are reinforced through favorable feedback from participants, which creates the illusion that value is created. It is a “silent conspiracy” among participants, facilitators and business sponsors. Expectations are met and boxes are ticked, but is value provided? Is improvement made? Is the business better prepared? This closed loop reinforces doing more of the same, regardless of whether or not it is driving business impact. Getting Outside the Bubble CEOs go to L&D when they need training but only occasionally consult L&D leaders on the strategic implications of workforce transformations or the people development needs of strategic initiatives. Even when L&D provides opportunities for professional growth, employees may not know how to access it or do not feel it is relevant Learning leaders need to create a learning function that focuses predominantly on understanding the business and problem-solving, using learning and organizational development as levers. This is a significant shift from the traditional “training shop” approach, and it requires: Learning leader(s) who initiate and add value to business strategy conversations An L&D team capable of performance consulting, equipped with deep business understanding A focus on the learner experience and providing access to learning at the point of need Deep analytics capability to assess impact with strategic initiatives and with employees Building Strategic Partnerships Given budget constraints and the need to move quickly, this approach may require engaging L&D partners who can bring learning innovation more rapidly. The right partner(s) will understand brain science and learning technology innovations and use them to achieve business impacts. This approach requires a thoughtful and iterative strategy, which will help the internal L&D function and partner(s) focus on what matters.
- #26 From Siloed to Networked One of the major differences between continuous and more traditional learning methods is ownership. In the past, L&D departments oversaw a good chunk of the ideation, creation, execution, and delivery of learning initiatives—but continuous learning involves a much broader range of stakeholders and participants. Managers are responsible for delivering and following up on experiential activities. Learners are responsible for taking advantage of exposure activities that will build their networks. L&D should focus on building those networks and relationships that will enable a closer tie to the business. From Complacent to Curious organizations we see that are adapting well to their new reality are those which have a sense of curiosity in everything they do. This curiosity leads to new ways of doing things and, in some cases, in L&D creating expertise in areas outside of the traditional L&D function—to the extent that they are often called upon for their advice or guidance. Insatiable curiosity on the part of L&D professionals helps drive them to stay current on the latest and greatest trends, and on market and industry forces—which can open their minds to new and better solutions. From Piecemeal to Holistic Delivering continuous learning is dependent on the L&D department’s ability to think holistically, regardless of particular roles within the function. L&D function and L&D professionals, specifically, should have a “greater-than-us” approach to their work—ensuring that their actions are moving toward the greater good. From Rigid to Agile Company often requires L&D to respond to immediate needs to keep the business moving forward. L&D’s primary goals is efficiency— training the most people to perform the task in the most economical way possible. However, in order to become agile, L&D should rethink its mindset. While defining processes, realigning relationships, and retooling templates may be involved on an organizational level, individual L&D professionals also need to feel empowered to make decisions that will help to keep them flexible. From Conventional to Innovative Employees now work and learn differently, both out of necessity and preference. Some of the conventional methods embraced by L&D are outdated, at least in their execution. L&D should be brave enough to break some of those moulds and to try out different ideas. Some will work; some will not. But, if nothing else, the department will hopefully gain the ability to think outside of the staid processes and existing tools in order to meet business needs.
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