Damani Short breaks down some of the challenges of broadening the talent definition, emphasizing the need for a deeper understanding and integration across all levels of an organization. At Lexico, we expertly guide our clients through these complexities, aligning talent strategies with current business objectives to foster inclusivity and adaptability for robust future growth.
How is your organization planning to transform its talent strategy to embrace a more diverse and dynamic workforce?
Culture
As you kind of broaden that definition and potentially bring more third parties into your talent ecosystem. We’ve gotta be thinking about what – does that mean for culture?
As organizations broaden their talent definition and potentially bring more third parties into their talent ecosystem, it’s crucial to consider the implications for company culture. A diverse workforce can enhance creativity and innovation, but it also requires a culture that values inclusivity and collaboration among all contributors.
Succession Planning
Second is succession planning. especially if we have big service providers in our ecosystem, it looks very different, uh, versus a scenario where it’s all badged employees.
Succession planning presents a unique challenge when integrating various talent types. If service providers become a significant part of the ecosystem, the traditional approach to succession planning—often focused on badged employees—must be reevaluated. Organizations need strategies that accommodate the diverse skills and experiences within their workforce.
Mindset Perspective
Third, you know, from a mindset perspective, in many organizations, contractors, service providers, managed service companies, have always been almost like a caste system treated as second class citizens.That mindset will not work in, and today or the future of business. To thrive in the modern business landscape, organizations must cultivate a mindset that values all contributors equally and recognizes their potential.
Skill Set Shifts
The fourth thing to think about is, uh, it definitely changes the skillset mix, and what we need to be thinking about and where we’re investing in those skill set shifts.
Broadening the talent definition inevitably changes the skill set mix within an organization. Companies need to assess the new skills required and invest in training and development for both badged and non-badged employees. Understanding these shifts is essential for maintaining a competitive edge.
Risk Landscape
Then the last area is, the risk landscape in our businesses everything from supply chain, challenges to cyber and risk related, changes in the landscape. So we need to be thinking about as those changes take place, how do we make sure we’re addressing those things?
Broadening the talent definition presents both opportunities and challenges for organizations aiming to thrive in a dynamic business environment. By addressing cultural shifts, rethinking succession planning, and fostering an inclusive mindset, companies can leverage the diverse skills of all contributors. Moreover, adapting to changing skill set requirements and navigating the evolving risk landscape are critical for sustained success.
At Lexico, we understand these complexities and are dedicated to guiding organizations through their talent transformation journey. By aligning talent strategies with current business objectives, we can help you create a more adaptable, resilient, and inclusive workforce. Embracing a broader talent definition is not just a strategy—it’s a pathway to robust growth and innovation in the future. How is your organization preparing to embrace this transformation?
Looking to implement a capability-driven approach to talent? Contact Lexico.