Managing Talent to Take Advantage of Today’s Uncertainty

There is no denying it; we are living in a world of uncertainty and change. Rapid developments in technology and how we communicate impact what is relevant in the blink of an eye. Consider these examples: Record companies and CDs have declined in significance as music has made the digital shift to the age of iTunes and Pandora. Borders book store closed its doors as we can now read electronically via the Kindle and Nook. Even email is less relevant as communication has shifted to social media sites like Facebook, Twitter and LinkedIn.

We have not experienced change of this magnitude since the turn of the 20^th century when the industrial revolution changed our lifestyle from farms and agriculture to cities and manufacturing. This wave of change puts extreme pressure on organizations to stay ahead of the times, invest in the next innovative idea and evolve products and services to meet customers’ new expectations. Those that are able to do so will thrive and those that don’t, as Darwin would suggest, will become extinct.

When it comes to talent, keeping up with the ever-changing world economy requires a focus on hiring and developing people with the right competencies to be successful in this tumultuous environment. The February issue of Fast Company featured an article called, “Generation Flux,” in which it describes how individuals who will survive and thrive need to let go of traditional career trajectories, and look to develop their skills and innovate on a personal level by continuously reinventing themselves. The same is true at the organizational level. Organizations need a strategy in place to ensure their workforce stays relevant. Specifically, this involves hiring individuals who are adaptable, open to change, creative, optimistic and resilient. It requires forward-thinking development programs in which people are encouraged to keep their skills cutting-edge. It requires a change in how work is structured and rewarded. In order to innovate, people need time for creativity. Innovation must be rewarded, but it needs to be ok for ideas to fail as well. Finally, managing in the current environment requires trusting employees to do their part to innovate and requires that managers earn employee trust and motivation by connecting their work to a meaningful vision.

With so much up in the air right now, the only thing that is certain is change. Being mindful of this fluid landscape and putting the right people strategies in place will ensure that your business will stay on point and be able to innovate to take advantage of the never-ending list of new opportunities.