Infosys Knowledge Institute (IKI), has unveiled market research titled ‘Infosys Talent Radar 2019’ giving insightful findings, on talent and skills high in demand. The report says about rising importance of soft skills and the barriers to talent transformation across global enterprises.
Enterprises globally are undertaking digital initiatives to enhance customer experience and increasing productivity.This requires technical skills in greatest demand for carrying out these efforts include analytics, automation and artificial intelligence (AI), as per a study by IT major Infosys.
According to the research, although nearly all large enterprises are pursuing improvement initiatives, digitizing the business is less about disruption and more about meeting focused objectives which include better understanding of customers and markets (46% of respondents), customer experience (45%), increasing productivity (40%), and employee experience (35%).
The study finds the following mentioned skill set to be highest in demand.
Digital initiatives require people with sophisticated technical skills.The five technical skills in greatest demand today are analytics (67%of digital initiatives), user experience (67%), automation (61%), IT architecture (59%) and AI (58%),” it added.
Digital projects are focused on creating superior customer and employee experiences, and soft skills have become just as important as technical ones. Those in greatest demand are teamwork (74% of digital initiatives), leadership (70%), and communication (68%). However, respondents seem to underestimate the relative importance of two soft skills: empathy (52%), which is essential for design thinking, and learnability (56%), which is key to the continuous personal and technical development essential for today’s digital talent.
For both hard and soft skills, the capabilities hardest to find and in greatest demand are analytics, communication, and adaptability. However, the skills companies need most vary by industry and the types of digital initiatives they are pursuing.
“There is not just a talent war it’s a famine. To succeed, companies must hire, develop, and retain talent better than their competition,” Infosys Chief Operating Officer Pravin Rao said.
He added that as enterprises progress in their digital journeys, winners will be those who utilise multiple hiring sources and re-skill workers in a culture of lifelong learning.
The report is based on responses from over 1,000 CXOs and other senior-level respondents from companies with revenue greater than USD 1 billion. These respondents represented multiple industries and were from Australia, China, France, Germany, India, the UK and the US.
The report identified four approaches that can help companies prepare themselves to address the talent needs of today and prepare for those of the future.
It suggested that companies cast a wider net for new hires, re-skill and re-deploy in-house talent, engage temporary workers and gig economy strategically, and align organisational structure to evolving business needs.
Further Infosys analyzed five key areas on how well respondent companies were positioned to meet their talent needs including planning, hiring, training, incentives, and workplace.
From their responses to questions in each of these five areas, Infosys developed a Talent Readiness Index. The research team sorted companies by their index score, and three distinct clusters emerged — Followers, Challengers and Leaders.
Followers have fewer approaches to develop talent and don’t measure their results or effectiveness.
Although challengers invest heavily in anywhere, anytime training, they still rely on traditional sources for talent acquisition.
Leaders build lifelong learning culture and use it to retain top talent.
(Image Courtesy: www.information-age.com)