In recent conversations, I have noticed a growing curiosity about why leaders need to invest themselves more in developing their people — especially their best and brightest people.
Talent, development, training? Isn’t that why we have Human Resources departments? Not anymore. Here’s why.
Future talents will need more diverse skill sets to help the organisation in whatever ways it requires. If the business environment is constantly in flux, it makes sense that the demands on our talented people will not remain static. This means that we need to develop people’s skills, and not develop people for fixed positions or career paths.
The challenge we face is that skills constantly evolve (or become obsolete), and it is difficult to predict what we will need with great accuracy.
Research by McKinsey & Co estimates that 75 million jobs — not all of which fully exist yet — will go unfilled due to skills shortages. For example, we have all seen the demand for data and digital skills in Thailand today, which many would have not predicted 10 years ago. Research by Gartner suggests that 33% of the skills that were needed for a job in 2018 will become obsolete this year. Additionally, each job requires more skills to be successful.
Gartner also found that 36% of HR professionals struggle to hold business leaders accountable for talent outcomes. Leaders can be the problem. Not enough leaders seem to be stepping up to build the future of their organisations.
This is damaging in an era when the views of young, talented people on what is important in life are changing. People of all ages are changing their perspectives on what work means. Many employees will not commit their future to an organisation, or a leader, who is not investing themselves in their future.
Providing your people with opportunities and support to grow and succeed is essential. Leaders must promote a growth-supporting workplace and an experience that moves beyond old ways of thinking.
Leaders can support talent development in at least two dimensions. You can provide development support and opportunity. In my organisation, we have learned that it is a waste of time and money to develop new skill sets and mindsets if you do not provide opportunities for people to practise and apply them immediately.
Who is the best-placed person to identify and provide these opportunities? You are, as the leader of a team, unit, department or organisation. You can do more than support skills acquisition. You can maximise the success of practice and development. Here are some examples of how you can contribute as a leader:
Develop Soft Skills: Even though we are in an ever more digital and tech-centred world, it is the human skills that will make the difference. Look at areas such as communication, for example. You can provide your talent with opportunities to make presentations to your co-workers to help develop these skills.
Develop Collaboration Skills: You can provide them with opportunities to work with those in other departments or even outside the company. But get them to reflect on and share what they learned.
Develop Wider Perspectives for a Changing World: You can provide opportunities for your talent to visit other organisations or go to conferences.
Develop Focus and Application: You can provide your talent with feedback and guidance. Engage people in career conversations. Help them see the path they want to take and identify the skills and experiences they need to achieve their goals and aspirations.
Do I really need to do this when there are so many demands on my time? I would say yes. Many other leaders have already seen the importance. A recent Economist Intelligence Unit report found that 35% of corporate leaders spend between 35% and 50% of their time on their talented people. Another 20% were spending at least 20% doing the same. The rest spent 15% of their time — that’s a bare minimum. What percentage of your time do you spend developing your talent for the future?
You are not alone, but your input is important. This is true whether you are a C-level executive or a team leader. You must drive, and HR must enable and empower you to do so.
Starting tomorrow, why not consider the people you have for emerging roles rather than looking outside the team? This will stretch them, but their existing knowledge is also helpful. If you have provided development feedback, check and see what they are doing with it. Help keep it on their personal development radar.
Try to find ways to connect your talent so they can develop together. Learning together and sharing maximises the return on time invested and improves everyone.
Arinya Talerngsri is Chief Capability Officer and Managing Director at SEAC — Southeast Asia’s Lifelong Learning Center. She can be reached by email at arinya_t@seasiacenter.com or https://www.linkedin.com/in/arinya-talerngsri-53b81aa. Talk to us about how SEAC can help your business during times of uncertainty at https://forms.gle/wf8upGdmwprxC6Ey9