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Action Tip

Transforming your business model is great – but where will you find the talent?

You sense that you won’t be able to make the necessary transformation of your business model using your current talent, and that adapting your training program won’t be enough to do the job. You’re faced with several challenges: finding talent when there is a shortage, as well as retaining and developing the talented people you already have.

Based on
The plane flies during a storm and heavy rain overcast

Beyond Great Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism, and Technological Revolution by Arindam Bhattacharya, Nikolaus Lang and Jim Hemerling (PublicAffairs, 2020). 

1. Look properly

The talent pool you’re used to dipping into isn’t enough to fulfill your requirements anymore. The talent shortage, especially when it comes to digital technology, will force you to review your concept of talent and your search methods. 

  • Look in unlikely placesTalent isn’t just made up of recent graduates: Broaden your search area and be inventive. Some recruiters will look for self-taught individuals on programming platforms or in the gaming world, while others will hire new colleagues at hackathons. And don’t forget: Not all digital talent is to be found in Palo Alto. You should also think of less obvious places, such as Moscow, Melbourne or Shanghai. 
  • Borrow talent. Some atypical yet talented individuals are very attached to their independence, yet they can still supply their expertise on an ad hoc basis. Turn to freelance platforms for specific projects.  
  • Go shopping. Does a start-up boast the in-depth expertise you need? Then buy it! This practice is becoming increasingly widespread: General Motors acquired Sidecar, which specializes in carpooling, to counterbalance its unattractive brand. Other companies invest in start-ups at a very early stage, creating their own incubator or start-up accelerator. 
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Florence Meyer
Published by Florence Meyer
Executive coach, change management expert, and author. Constantly on the lookout for the latest management and leadership trends.