The competition for talent is intensifying, leading companies to consider different options for filling capability gaps. Greg Caimi, who leads Bain's Digital practice in the Americas, explains why businesses should focus on getting current personnel to reach their full potential rather than just hiring talent from outside the organization.
Read the Bain Brief: Building a Workforce for Digital
Read the transcript below.
GREG CAIMI: Acquiring, developing and deploying digital talent actually starts with understanding the capability gaps that you have and determining how you're going to fill those gaps. Will it be from inside the organization? From outside the organization? Is it something that technology and automation could do, or would you do it, potentially, with a partnership?
Most organizations focus probably too much time on hiring to fill talent gaps that they have and not enough time on upskilling the talent that's already in their organization. Employees today are not monolithic, and the best employers think about segmenting the employee base the same way they would segment their customers.
The new deal for talent is really not a replacement of the way things were done in the past, but it's a layer on top of that. Increasingly, in addition to things like compensation and progression through the ranks, employees are looking for things like connection to a deeper meaning, cross-functional training and development, and the opportunity to innovate.
The competition for talent's not really new, but it's increasingly intense. And there's more and more things that companies can do today to actually stand out from the crowd.