Importance of Artificial Intelligence (AI) in HR Software for Modern BusinessesMarch 12, 2018
The HR industry today operates in a rapidly changing business environment known as the ‘VUCA’. The VUCA is an acronym which stands for Volatility, Uncertainty, Complexity, and Ambiguity.
Volatility– where things change fast but not in a predictable trend or repeatable pattern.
Uncertainty — where major “disruptive” changes occur frequently. In this environment, the past holds little clue on what is about to take place in the future, and identifying the forthcoming is extremely difficult.
Complexity — where there are numerous difficult-to-understand causes and mitigating factors involved in a problem.
Ambiguity — where the causes and the “who, what, where, when, how, and why” behind the things that are happening are unclear and hard to ascertain.
According to a recent survey, the stats say 45% of the workforce is not engaged and 26% are actively disengaged.
Whereas, 43% of highly engaged employees receive feedback at least once a week and 71% of the disengaged and discontented individual are sharing on social media like LinkedIn and Glassdoor. If we follow the numbers carefully we could see the underlying messages.
5 things that Talent Management must do for the upcoming VUCA Environment
Quick and Subtle Employees
Build a primary goal to focus on the hiring, training, and retaining of employees and managers who are quick and subtle, are likely to thrive in a VUCA environment, and those who have the capability of acting effectively in unforeseen and unpredicted situations.
The top priority of talent management should be focused towards innovations, game changers and pioneers, essential for success in a VUCA environment
Develop systems to increase the speed of individual and organizational learning.
Build a strong talent management process and programs that provide a competitive edge over other talent competitors.
Effective training and development is the key for employees and managers to identify and effectively handle new problems. Scenario training and simulations are the keys to building awareness and confidence onto the employees to face a completely new situation head-on.
5 things that Talent Management must not do to overcome the VUCA Environment
Leaders must dramatically modify or stop doing the following things to prepare for a VUCA environment.
Don’t rely on the past trends as an accurate predictor of the future
Don’t benchmark the best practices and solutions to most current problems
Don’t assume that the corporate culture and even corporate values should remain fixed by its own.
Don’t assume that long-term employee retention is possible or even desirable
Don’t assume that “one-size-fits-all” is a good approach to manage employees
VUCA isn’t something to be solved; it simply is. Attempts to simplify complexity, or to break volatility, uncertainty, and ambiguity down into smaller and smaller parts in hopes that each can be decoded and countered will not make them go away — there are too many elements beyond the control of traditional centers of power and authority.
According to a World Economic Forum report, in today’s world, the most priced resource that should be leveraged on is Human Capital. The disruption caused by the era of the VUCA world has paved the way for greater talent mobility as well as management. The navigation of the present-day scenario with optimal usage of available talent will ensure that organizations of all sizes can flourish in the VUCA world.