Digital transformation is no more just a flavor of the season. It is here to stay. This one time, it is not because of propaganda but because the customer demands it.
IDC estimates over 40% of IT spend in the next few years will be on digital transformation initiatives. Over $ 2 trillion by 2019. Automation, ML, AI will remove most, if not all manual & repeatable jobs.
Meanwhile, employees are, re-skilling and positioning themselves for the new economy. They are getting certified in new skills, new technologies and getting digitally savvy.
According to the Capgemini Digital Transformation Institute, 58% of employees are already investing in building new skills on their own (time & money).
Capgemini Digital Transformation Institute Survey?—?2017
So, as a business leader,
What does it mean to you?
Automation will take over more routine and manual jobs. Demand for jobs that only humans can excel at is at an all-time high. How can you retain and engage your talent for the jobs that absolutely need human brains?
43% of the workforce is expected to be freelancers by 2020. How will your organization identify right talent (internal & external), allocate work, track progress, evaluate output, and engage with this distributed workforce?
By 2020, millennials will dominate 70% of the workforce. Do you have the right strategy to engage with the digital natives? How will your strategy ensure purpose-driven work?
A clear ‘Talent Transformation’ strategy is critical to the success of your digital transformation journey. You need a strategy & well executed plan to transform your talent into ‘Digital Talent’.
To do that, you will need to:-
The C-Suite should clearly align and speak the same language. The strategy should also clearly align with the digital agenda of your company.
Learning should be the core to your strategy. This brings in agility of talent competencies and ability to respond quickly to the changing business dynamics.
A completely different approach to how your organization recruits, develops, engages, talent, while, taking a more digital point of view when you allocate, evaluate work quality, and pay or reward, should be designed for your specific needs. A model that works for the new age distributed workforce.
Organizations feel the heat of the widening digital talent gap. This hampers the growth prospects and aspirations of your company. Unless you have an effective and well executed ‘Talent Transformation’ strategy, your Digital Transformation is incomplete..