A recent study from Gartner on Top priorities for HR Leaders in 2022 showed that building critical skills and competencies for their organisation is the main priority for 59% of them.
This led us to think deeper about the subject and wonder: what is the actual problem to be solved here? Is it purely a talent management issue or a business performance problem underpinned by talent and resources.
- How do you determine the skills that you will need and for how long?
- Is the talent you need available and can you manage shortage?
- How do you design your ways of working to be agile in attracting the right people in the ‘talent war’?
- What focused talent strategies provide our business with a competitive advantage?
Shaping your plan all comes back to business strategy, not simply isolated tactical ‘ideas’.
You can start by nailing down where are your biggest demands for performance and why, and how you can structure your business to alleviate talent risks.
Let us take some examples:
- If you are not a technology business, it is reasonable to explore how you can simplify your technology environment such that you are not constrained by tight and competitive demands that exist in the technology space.
Instead of ‘chasing trends’ how can you step back and design your technology investment decisions in such a way that you don’t need to rely on that tight and under-developed talent markets as a critical failure point? How can we intelligently explore ‘buy, borrow or build’ pathways in our employment mix to solve for critical capabilities?
- In exploring retention, how can you leverage the changing ‘hybrid-working’ landscape as a competitive advantage rather than playing to ‘we do 2 or 3 days a week in the office’ like every other business?
What if we determine critical strategic priorities and overlay our cultural values to find a starting point that enables us to be highly effective in both talent retention and acquisition in the short term (while positioning ourselves for advantage in the long term)? How can we use a ‘hybrid working’ value proposition that is underpinned by purpose and meaningful decisions, rather than a blanket one-size fits all approach?
The model for solving this is to plan strategically, avoid shooting from the hip with tactical plays, and develop focused initiatives that you’re prepared to integrate and improve in ‘getting it to the result we seek’. Before making bets on how to sort your talent issues you need to make sure you are solving the right problems and build a talent strategy that supports your organisation’s objectives.
Use all aspects of buying, borrowing, and building to intelligently manage demand on your business, maintain (or even enhance) culture and deliver on your competitive advantage.
Building critical skills is important, yes, but make sure to know the big picture, trade-offs with any big bets, and ensure the plays you are making support your business strategy in a sustainable way.
Find out more about our programs and business solutions to support your HR Strategy here. Feel free to reach out to us directly to explore your projects at [email protected]