Tech and Talent: A Business Greatest Needs Today

Introduction
 

To rise and thrive, to innovate and expand, to grab new growth opportunities, integrating technology into your business process is imperative. There’s a reason why Artificial Intelligence (AI) remains the no.1 business trend even at the end of the year. Then, there’s talent. 

Technology may be driving the industry transformation, but hiring agile talent and nurturing them promises to be the game-changer. Employees capable of being adaptable and skilled to integrate technology will provide businesses with the much-needed impetus for sustained growth and a competitive edge. 

Further in the blog, we shed more light on why tech and talent are a business’ greatest needs today. Also, find out both the global and Indian perspectives on the subject. 

Technology
 

Generative AI has brought a tectonic shift in the way companies perceive the power of technology. The business transformation seen in the past year has made technology more appealing to leaders, and now everyone is working out ways to leverage new and innovative tech trends to maximize growth. However, it is worth noting that besides AI there are other technologies ready to redefine and reimagine the business as we know it today and solve the biggest and complex challenges of tomorrow. It includes Machine Learning models, Analytics and more.

Focus Areas

The focus areas for businesses include technologies that can help in:
 

• Boosting sustainability 
• Implementing environmental measures
• Digital transformation
• Alternative energy 
• Health and wellness
   

In short, technology that leads to the betterment of people as well as the planet is a priority for businesses.

Leading and successful corporations worldwide have already started working on transforming their existing technology architecture and supporting infrastructure with the help of business plus tech leaders. Also, they are keen on undertaking the transformation that touches all business components: business models, people, process and technology capabilities, products/services and analytics. 

Take for example, the staffing requirement within a company. Business giants are trying relentlessly to either integrate technology to boost staffing or partner with a vendor who has technology expertise for the same purpose. In effect, technology should touch every part of the company. 

What else should businesses looking to grow with technology consider? One thing that sets apart leading companies is the investment in technology that benefits their respective business. Therefore, instead of getting your hands on every new technology, a thorough assessment has to be done to make appropriate technology decisions that will steer your business growth to the next level. 
 

Talent 

Talent is the biggest asset today, which can help businesses to remain competitive and win in the ever-shifting landscape of work. So, how are successful business organizations managing talent? 

• Talent Complementing Technology
   

The key objective of any business is that the technology used should simplify processes, assist people and provide exceptional experience to clients or customers. To achieve these objectives, the right talent who can leverage technology is a must. 

Take for example, the contact center industry transforming at a rapid pace. Successful businesses are hiring call agents who are trained in using the latest and advanced technology to simplify customer engagement, boosting call productivity and fast report generation.  

• Skills over Certifications

Another trait that defines leading business organisations is the hiring of employees with potential skills rather than certificates alone. As business operations evolve, companies are identifying candidates who are capable of learning new things quickly besides what they are doing. More and more entities are shifting employees to new responsibilities and contributing to their holistic growth. 

• Importance of Talent Management

The workforce are the innovators, change-makers and growth drivers of a business. Thus, a talent mindset is important today to attract, retain and build the best pool of employees. It involves designing a talent-centric culture where leadership takes the initiative to nurture and build employees, offer health and wellness benefits and encourage innovation. 

Talent management encompasses everything related to employees, from onboarding, engagement, developing their skills and inculcating leadership mindset.

Recent reports and studies show that there’s a clear connection between talent management and organizational performance.

• Employee Experience

Leading research firm McKinsey found that 78% of organisations prioritize building the capabilities of employees. However, only 30% feel they are effectively doing it. As employee experience gains prominence, the role of HR has become more strategic and necessary.

A few of the things HR managers should focus on include:
 

• Clear Career Path 
• Rewards and Recognition
• Learning and Development Opportunities
• Health and Wellness
• Tailored Employee Experience for Multigenerational Workforce

In the past many years, businesses have been unable to achieve transformation objectives. The chief reason was talent shortage rather than technology. Thus, businesses looking to differentiate and get a competitive edge over competitors need to have a robust pool of talent. Companies should look to win the talent market and constantly align with the shifting work trends. Company culture, training and development, benefits offered - all of them matter. 

India Perspective

India has risen to new heights on the back of technological innovations and advancements achieved in the past decade. Technology has empowered industries and opened up opportunities galore for businesses to grow and expand. 

In fact, India has become one of the prominent technology-friendly nations in the world by implementing the following measures:

• Digital India initiative focused on transforming India into a digitally empowered society and knowledge economy

• Evolution of financial technology through digital payment systems, Aadhaar for personal identification, Unified Payment Interface (UPI) etc.

• Online trade and paperless settlement

• AI capability development

• Digital infrastructure development

As far as talent is concerned, the incredible growth story of India will only accelerate the war for the best talent. Competitive, strategic and flexible HR has a huge role to play in helping businesses acquire the best talent and boost business growth. 

Another trend observed is that giant corporations laying off employees is an opportunity for other mid-level organisations in India to get their hands on top talent and evolve.                                                                                                                                              

Advantages of Hiring Top Talent
 

• Competitive edge 
• Innovation
• Productivity
• New ideas and strategies 
• Better brand image  

Narayan Bhargava Group is a modern conglomerate with 5+ diversified brands. The major ones include NSB&Co., Calibehr, MyBranch, and Gromaxx. The group provides end-to-end solutions such as tech-enabled auditing, staffing, contact centre, background verification services, technology solutions, office space solutions, retail and distribution solutions and more for business success. To know how we can help your business grow, contact us today.