A prosperous business should be adaptable, but how can a business be adaptable when emerging technology cycles occur at an accelerated rate. Even forward thinkers are baffled by the necessary skills and digital capabilities required to maintain a competitive edge in the digital market. Emergent trends such as Big Data, IoT, and social media require digital capabilities and adaptable talent in order to be an asset to an enterprise. However, according to an article from Forbes, only one out of eight digital integrations are successful. In order to not be one of those seven other companies, we have highlighted throughout this article the high-level methods in which to acquire both the necessary capabilities and talent.
In order to disrupt the natural order of your company, to gain modern digital capabilities, you will need to come to the conclusion you cannot do this by yourself. There are too many specialized fields to create them all in house, and there are no feasible means to acquire the talent, to make these new capabilities effective, at least at first. In a white sheet, published by Capgemini, 4.4 million IT jobs will be created around the field of Big Data by 2015, but only a third of these positions will be filled. If it is not possible to fill the the roles that you need then how do you proceed? The first order of business is to understand your business needs. How do you want your company to grow digitally, what tools will you need for digital expansion, and what personnel will you need to make your tech succeed over the competition. By understanding your company’s roles you will be able to strategically select the right people and tech while minimizing waste.
However, even after understanding your needs, you will still need to acquire the people and tools necessary for your digital growth. Some will need to be hired and created in house, others will need to be contracted. Traditional business models tell you to create cost efficient all in one contracting packages that last forever, but that will not work for the accelerating digital market. Instead more diverse, and scalable, contracts will be necessary, in order to meet your company’s constantly changing integration needs,. In other words, the 1099 economy is what you need. This will allow you to acquire the tech, and infrastructure you need, rapidly, and when it no longer suits your needs you can change contractors without feeling the weight of a long term cost. Also, Sharing the financial burden/reward with your contractors will both improve your relationship, and increase incentive to adapt to your ever changing digital needs.
Furthermore, to hire in house talent, unconventional methods will be necessary to recruit. According to an article, by McKinsey, competitive pay is important, but it will only get you so far, as great digital talent is flooded by recruiters, and mostly likely your HR department will not be able, or have the resources, to handle the unique task of recruiting this digital talent. Your company will need a message, or direction, that attracts the top talent, and you will need an envoy to share that message with your prospective hire. The best recruiters, of digital talent, are those who already have a reputation in the field. Talent attracts talent, and if you want the best new talent you’ll need to have a pinnacle in the field to draw them in. This will guarantee that not only are you getting the best new personnel, but that they are excited by the prospect of working with the best.
With these high level steps your business, and with the help of Digital Strategists like the folk at Trackmind, will be able to grow exponentially, and keep up with the rapid field of digital advancement. Next week we will discuss the top positions you will need, if you want your digital enterprise to succeed, and what they offer and how they will interact with each other.