Source | LinkedIn | Keith McNulty | Digital and Analytics Leader | Human Capital Leader | Mathematician, Psychometrician, Data Scientist, Programmer
I am convinced that in the 21st century talent management will be the key differentiator of successful organizations. Within a couple of decades, no matter what measure you use, those with the most advanced approach to the recruiting, development and retention of talent will outperform those who lag behind.
It’s a bold prediction, and there are two fundamental reasons for it. First, we are going through a disruption of work and talent the scale of which we have never seen before in history – and those who try to navigate it blindly will struggle. Second, with the vast majority of human resources functions currently playing a service-provider role – reacting to events rather than attempting to get ahead of them – the opportunity is there to step up substantially in talent management capabilities. With the right vision and investment, human resources can take the strategic lead in helping businesses navigate the disruptive chaos we find ourselves in today.
HR must adapt
Be in no doubt that we find ourselves in an unprecedented period of disruption of work. The economics speak for themselves. In the US for example, GDP per worker has doubled since the mid-70s while real wage has remained almost exactly the same.