Talent management in a global landscape

The 'Anywhere Workforce’: Leveraging global talent pools for competitive advantage?

The remote work revolution has laid the groundwork for the 'Anywhere Workforce’, a concept that acknowledges the viability and advantages of a geographically dispersed team. Here are key advantages and strategies to leverage this emerging reality.?

Advantages?

Access to global talent: Businesses are no longer confined to local talent pools and can access world-class expertise from anywhere.?

Cost effectiveness: A global workforce allows for more efficient cost structures, particularly when tapping into talent from diverse geographical regions and optimising resource allocation across different time zones and markets.??

Diversity and innovation: A workforce from diverse backgrounds brings a plethora of viewpoints, driving innovation.?

Strategies?

Centralised communication platforms: To manage an 'Anywhere Workforce’, investing in robust, user-friendly communication tools is essential to enable asynchronous working (explored in section X)??

Training in systems and technology: To ensure seamless collaboration across diverse geographic locations and teams, it is crucial to ensure that all staff are trained to a certain minimum level of competence in company-wide technology, systems and practices and to periodically update this in line with advancements and updates.?

‘Phygital’ work experience: This trend combines ‘physical’ and ‘digital’ to recognise the ever-improving adoption of technology to enable remote collaborative work, but also the importance of keeping a human touch through initiatives which foster engagement, minimise isolation and promote well-being.?

Global payroll and benefits systems: To attract and retain top talent, seamless and fair payroll and benefits systems must be established.?

Legal and regulatory compliance: Operating across borders necessitates a thorough understanding of different employment laws, regulations and customs.?

Digital nomads: Adopt the use of this emergent trend and utilise specific visas now offered by a number of countries.?

These strategies are aimed to provide some examples but not all of these will suit all organisations. Adopting appropriate strategies will support businesses to position themselves ahead of competitors still tethered to local or regional talent pools.?

Skills economy: Why skills-based hiring will overtake degree-based hiring?

Skills-based hiring is poised to surpass qualification-based hiring due to its focus on practical capabilities and demonstrated competencies rather than relying solely on formal qualifications.?

Recently, Elon Musk became renowned for expressing the view[1] that to be offered employment at one of his companies, the candidate should have “exceptional ability” and that going to college is not evidence of exceptional ability, rather it is evidence that the candidate was disciplined by having completed “annoying homework assignments” and, albeit unorthodox, preferably the candidate recognised this and dropped out too. He referenced Bill Gates, Steve Jobs and Larry Ellison who all left college part way through. According to a recent publication by LinkedIn[2], a significant number of employers are shifting to this view. Studies suggest that traditional signals such as a candidates degree qualification or years of experience are ‘flawed predictors of someone’s ability to do a job well’. The recent study by Jobs for the Future[3] demonstrated that although over half of employers think hiring based on qualifications is less risky, over 80% of employers now believe that skills-based hiring should take precedent over degree-based hiring.?

Why the shift??

Emphasis on practical performance: Employers are increasingly interested in what candidates can do rather than what degrees or certifications they hold. Skills-based hiring ensures a better match between the candidate's abilities and the job requirements.?

Diversity and inclusion: Skills-based hiring can reduce bias by focusing on objective assessments of a candidate's abilities, rather than the educational systems they could access, thus promoting diversity and inclusion within the workforce.?

Access to a wider talent pool: Further to the above, qualification-based hiring can limit talent options, while skills-based hiring opens opportunities to a broader range of candidates, including those with non-traditional backgrounds.?

Changing education landscape: Online courses, bootcamps, and alternative education paths have made it easier for individuals to acquire practical skills outside of traditional academic institutions, making qualifications less exclusive.?

Rapid technological advancements: Technology evolves quickly and traditional education systems cannot keep up. Employers need people who can adapt quickly, which is often demonstrated more effectively through demonstrable skills rather than qualifications.??

Agile work environments: In today's fast-paced business environment, organisations need employees who can quickly adapt and learn new skills. Skills-based hiring tends to better align with this need for agility. As a result, skills-based hiring is seen as more adaptable and future-proof in the fast-changing job market.?

Relevance to industry demands: Qualification-based hiring often relies on credentials that lose relevance over time. Formal qualifications become outdated faster than skills, which typically evolve and stay relevant through experience, practical application and continuous learning.?

Cost efficiency: Skills-based hiring can be more cost-effective as it minimises the emphasis on costly formal education requirements, allowing companies to allocate resources more efficiently. It also lends itself to enhancing the benefits of internal mobility.??

Improved job-match: Companies will start to see better job-role alignment through skills-based hiring as employers can identify candidates whose skills match the specific needs of the position.?

Overall, skills-based hiring is gaining prominence because it aligns with the dynamic nature of the modern job market, provides a more inclusive approach to recruitment, and enables organisations to tap into a broader and more adaptable talent pool.?

Implementing skills-based hiring?

Competency assessments: Employers can implement various assessments to measure specific skills relevant to the role.?

Quiet hiring: Investing in upskilling current employees to meet new challenges can be more cost-effective than recruiting new talent with the required skills.?

Collaboration with educational institutions: Some companies are partnering with vocational schools and online education platforms to create custom training programs that supply them with a steady stream of trained candidates. Taking advantage of apprenticeships, other vocational routes and the recently announced[4] Advanced British Standard, which is set to replace A levels and T levels.?

Through these insights and strategies, businesses can transition smoothly into the skills economy, reaping benefits like higher productivity, lower turnover, and overall better alignment between the workforce’s abilities and the organisation's needs.?

Responsible HR strategy: Unlocking the business potential of ESG??

Many of the strategies and advantages we have discussed in this section may be readily adopted into a robust Environmental, Social and Governance (ESG) strategy. Adopting these principles into HR strategy is not just a moral imperative; it's a proven pathway to enhancing reputation, attracting top talent, and driving sustainable growth, aligning organisational values with long-term business success.?

This article is an extract from the Whitepaper: Strategic HR Thinking: Aligning people and business strategy: https://www.hrsolutions-uk.com/strategic-hr-thinking-whitepaper/

?[1] Musk, E. (2020). Keynote Speech. [Online]. 9 March, Walter E. Washington Convention Center, Washington DC.? [Accessed 2 November 2023]. Available from: https://www.youtube.com/watch?v=HPV8Xp3pEpI ? ? [2] Raman, A. (2023). The Next Era of Work Will Be About Skills, Not Pedigree. [Accessed 2 November 2023]. Available from: https://www.dhirubhai.net/business/talent/blog/learning-and-development/the-next-era-of-work-will-be-about-skills-not-pedigree ?

?[3] Jobs for the Future (2022). Degrees of Risk: What Gen Z and Employers Think About Education-to-Career Pathways...and How Those Views are Changing. [Accessed 2 November 2023]. Available from:? https://expandopportunities.org/wp-content/uploads/2022/10/ASA_JFF_Degrees-of-Risk-.pdf ???

[4] Gov.uk . (4 October 2023.) Education, training and skills. New qualifications to deliver world class education for all. Retrieved October 5, 2023 from https://www.gov.uk/government/news/new-qualifications-to-deliver-world-class-education-for-all ?

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