The most important divide in today’s talent market runs between employers who prefer to stick with their gut feelings and trusted ways of working, oblivious to challenges, and employers who view talent as a strategic and competitive asset. The former are Fatalists, leaving everything to chance. The latter are Factualists because they make calculated, data-driven decisions.
Regardless of where you stand on the axis from Fatalist to Factualist, concrete steps can be taken to prepare your company for significant change. Our objective is to give you a road map on how to become a best-in-class employer.
In the new global economy, companies need to learn how to thrive in a world of increasing uncertainty, resulting in major talent management implications.
Firstly, companies are having difficulties making long-term plans because of shortening product life cycles, decreasing employee loyalty, increasing political fragmentation and the accelerating pace of technological advancements.
Secondly, economies are highly susceptible to long periods of low growth or even stagnation, which is consequently putting pressure on companies to reevaluate their business models.
If companies are Fatalists, they will be inept at dealing with market pressures because they will have ineffective workforces, incapable of addressing unforeseeable challenges.
If companies are Factualists, they will be better prepared for market fluctuations because they will have effective workforces, capable of handling unforeseeable challenges and overcoming obstacles.
Management teams now need to decide whether they will take their chances, leaving their businesses exposed to unpredictable storms, or instead steer their companies towards Factualism, a decisive approach to dealing with uncertainty.