With more moving parts than ever, every company is deciding how to allocate resources for talent acquisition and retention.
Abhijit Bhaduri is just the expert to discuss this further. He has led HR and talent development for Microsoft, Pepsi and Colgate and has consulted with Disney, Adobe, GE and more. With almost a million followers on LinkedIn, SHRM has rated him the top HR influencer in social media. He was also recently named one of the top ten most sought after brand evangelists in the world and a Top 10 Influential Voice on LinkedIn.
He's the bestselling author of Don't Hire the Best and Career 3.0 which suggests six skills that everyone will need in the future. Bhaduri shares his thoughts and expertise below on what is next for employers, employees and the future of work.
Make Strategic Choices
Invest 60% of talent management resources on upskilling the current employee groups. It is no longer a "war for talent", but a "war for skilling". Corporate learning and development programs go through a whole range of online content and expect their employees to emerge highly skilled. Clicking through hours of PowerPoint slides does not guarantee skill development. Watching hours of MasterChef videos is not going to turn anyone into a cook until they start cooking.
Having an expert coach share real time feedback can not only build the skills but also improve the confidence of the learner. To sustain the learning gain through this coaching system the learner must integrate the new skills into their daily routine. Barely 10% of the skills are gained through classroom instruction, while feedback from an expert in real time deepens the learning but until it is incorporated into the daily routine 70% of the learning is incomplete.
Embrace Multi-Disciplinary Teams
Innovation fuels business growth at a greater pace and that is better managed by multi-disciplinary teams. The design expertise of Jony Ive plus Tim Cook's experience in Supply Chain Operations helped to drive speed to market of Apple products and encouraged easy adoption.
Diverse Perspectives Speed Up Innovation: Multi-disciplinary teams bring together individuals with different backgrounds, experiences, and expertise. This diversity fosters a broader range of ideas and perspectives, leading to more innovative solutions. They can approach challenges from various angles, leading to more comprehensive and creative solutions.
Faster Adaptation to Change in the Market: Multi-disciplinary teams can adapt more quickly to market changes. With a wide range of skills and knowledge, they can pivot swiftly and effectively in response to new trends or shifts in the market. They can combine their unique insights and expertise to generate ideas that drive business growth.
Once you skill them, retain them through 3 Career Paths
Talent Branding lowers talent acquisition costs. A strong talent brand can translate into 50% savings in cost per hire and 28% lower turnover rate. People value different approaches at different career stages.
Specialist Path: Mastering specific domains for in-depth knowledge and refinement. Jane Goodall spent sixty years building a whole body of knowledge. She has spent over 60 years studying the social and family interactions of wild chimpanzees. Despite not having a bachelor's degree, Goodall was awarded a Ph.D. in ethology by the University of Cambridge in 1965.
Moonlighting Project: Elon Musk is known for leading companies but is largely self-taught in rocket science. He reportedly learned about rockets by reading textbooks and speaking with industry experts. Moonlighting (if done ethically) can be a powerful strategy of building skills and networking with people one would never know.
Portfolio Development: Facilitating skill accumulation across businesses, functions, and units. Job rotation programs, cross-training, or temporary assignments in different teams are powerful ways to develop a broader pool of talent while breaking down organizational silos.
