Experts at various seminars have stated that if India wants to be a global leader it is essential to get the formula right and the ingredients that make up this formula is the right balance of three ‘T’s- Talent, Trust and Technology.
To strike an equilibrium between machines and people in this digitised world, a right mix of talent, trust and latest technological tools is essential to structure business continuity plans and achieve the desired outcomes in the new normal.
In the times of digital disruption, companies have to source the right talent pool that adapts to the new changes in the business operations. Though technical skills may be necessary in the digital world, it is crucial to strike the right balance between the domain expertise that comes from legacy employees and new-age digital talent. An integrated team with a mix of experienced players powered with industry wisdom and young flesh brimming with new technical aptitude is crucial to overcome the existing challenges and survive. To stay ahead of others, organisations must identify new roles that may emerge in the digital era to optimise Artificial Intelligence (AI) and human balance. This will help in the pre-emptive skill development that encompasses building the right talent ecosystem in organisations. It will be imperative to empower existing talent pool through constant learning and re-learning to stay abreast of the ever-evolving work dynamics and be a crucial contributor in transforming the organisation to achieve new benchmarks. Today, talent needs continuous nurturing with innovative skill grafting, which helps them to leapfrog towards better roles, overcome business hiccups and scale a breakthrough opportunity.
Trust is the most crucial asset that you develop with your stakeholders, be it customers, investors, employees, associates and vendors. A company that can establish a strong sense of trust within the organisation is competent to weather the market volatility storms. Hence, it is essential to create a sense of belief among human assets. Moreover, aligning your words and actions is also a key pillar for the organisation's triumph, and you must instil it into your company's work culture. The organisation's culture can influence actions and drive the desired outcomes. Therefore, build a model of teamwork, reinforce the collaboration among the cross-functional teams for better learning, foster accountability and be open for feedback. By setting up an honest dialogue culture, companies can set the stage for an appreciative environment which will surely go a long way in tiding over disparaging market circumstances and attaining victory against all odds.
Talent needs to be abreast of the current and ever-evolving digital and technical skills to gain a competitive edge. India is a country with rich, young demography and a vibrant workforce that actively uses technology in their daily lives. As new technology gains acceptance, the growth options expand not just from an economic perspective but also the human standpoint. It is all about upskilling and augmenting technology usage at par with the industry practices to stay ahead of the curve.
Currently, India faces a problem where a section of citizens believe that the adoption of new technology will take away their jobs. However, the truth is the absolute reverse. What we have seen until now in the finance sector, makes for an apt example. From manual ledgers localised in branches to a centralised digital database, the infusion of technology in the banking sector has not only improved quality of work but also led to more job creations. It led to numerous job opportunities in areas such as sales, service, maintenance, repairs and upgrading. Overall, there are scores of employment options, but for those who upskill and re-learn the required skill sets.
In India, the construction sector is one which has been traditionally labour intensive. However a gradual change has been visible post the COVID-19 outburst as developers are integrating technology at the various stages of project development including planning, designing, marketing and also the implementation. This will usher a wave of innovation and ensure cost-effectiveness, accuracy, speedy execution and close monitoring. Hence, the developers must be agile to innovate and drive the workforce efficiently as it is all about upskilling and re-skilling to stay market relevant.