Talent Management As A Competitive Advantage In The Face Of Change

Companies and the people who make them up have always been subject to change. The point is that there have been moments in our history when changes have occurred more quickly, testing the reaction capacity of people and companies.

Each of the four industrial revolutions has been a time of significant change, which has forced us to rethink business models by presenting a paradigm shift.

The current problem is that what is changing is the pace of change. Changes are occurring at an incredible speed. If, in recent centuries, the processes of change have followed linear growth, at present, the curve has become exponential.

To date, at each moment of change, companies have tried to adapt to the new situation as soon as possible. The problem is that, nowadays, adapting only means surviving. And it’s not enough anymore. Companies need to evolve; they need disruptive changes.

The point is that we need talent to produce those changes, to make things happen. And in terms of finding talent, the difficulties are the same for large companies as for small ones.

The Keys To Choosing The Right Path

Learn to distinguish the essential: That is, the difference between the trivial and the vital. To achieve this, we need:

Concentration: To avoid being distracted by the difficulties of everyday life.

Focus. To identify where we have to go.

Observation: To detect the signs of change and be able to anticipate.

Results. We have to constantly measure to know if we are continuing on the path we have set out for ourselves.

Be very clear about the value that data provides: This is not about technology. Instead, it has to do with making decisions based on knowledge, the knowledge we extract from the data. If we have adequate data, we will make better decisions that will take us away from our objectives.

The balance between Thinking and Doing: In companies, we are very used to doing and little trained to think. We need to find the right balance between one thing and the other. We must assess in each case how much time we dedicate to thinking and how much to execute. One without the other is useless.

The Elements Necessary To Attract Talent

Culture

We have to understand the concept of Company Culture as the result of our actions and behaviour. Culture is the sum of our ways of doing things, rituals, beliefs, and practices.

If we want to attract and retain talent, our culture has to be attractive to the type of talent we want to attract.

The new standards of flexibility, conciliation, and teleworking are fundamental in this process and must be incorporated into the culture naturally.

The Leadership

In this case, leadership has to do with how we make things happen. Here, we could apply the binomial of Principle of Trust -> Principle of Responsibility.

If the company trusts people, they assume their responsibility, and this combination provides the expected results. On the other hand, if the company wants to control people because it does not trust them, people will hardly assume their responsibility.

This is one of the reasons why most companies have returned to a 100% in-person work day after the pandemic instead of establishing hybrid teleworking models, which are giving such good results in companies that have a culture of trust.

The Projects

Projects are directly connected to talent and vice versa. If we want to attract talent, we will have to propose exciting and challenging projects. If we attract the right talent, our projects will become more exciting and challenging, generating disruptive opportunities.

Common Errors In Attracting Talent

It is impossible to attract talent if you think you already have it. In most cases, companies believe that they already know everything and that they are the best in their field. You have to leave space so that new talent can arrive.

We have to attract talent for the future, not for what we are already doing. It is not about looking for people to help us improve current products or services but instead attracting people who help us create new ones for our customers.

To attract external talent, you must first renew internal talent. We tend to think that the people who are in the company no longer have anything more to contribute. Instead of starting to look for talent outside, we have to think about how we can renew the talent we already have within.

Suppose you are detecting signs of loss of competitiveness and consider that there is a lack of talent in your company. In that case, it is an excellent time to stop and think about it and make bold decisions to resolve it and anticipate your competition.

Also Read: Steps To Put Together The Best Financial Strategy For Your Company