Technology, Organisational Change and the Open Talent Economy: Opportunity or Threat?
Having operated at C-Suite level for nearly 40 years, we know that Talent Acquisition is an increasing focus for business leaders as they drive ambitious growth and innovation against a background of regulatory change, an unsettled political environment, and Brexit. As technology creates new efficiencies, the way we want – and need to work – changes whilst traditional organisational structures and job roles are being disrupted.
Over recent months, the Executive Search Practice within the Norman Broadbent Group has been advising on a number of ‘new’ (or emerging) roles. They are ‘new’, in that these roles did not exist 12 months ago, and have ‘emerged’ due to changes driven by technological and digital innovation. For example, the traditional role of COO is increasingly morphing into a combination of CIO and COO.
These changes have been driven by automation of process, and new efficiencies designed to improve organisational capability and capacity. In addition, new roles are being created which combine traditional Customer Services roles with those in Technology. Similarly, new roles are being created within the Finance function combining elements of finance, strategy and analytics.
Norman Broadbent’s in-house Research & Insight Practice has been working with a number of clients to help them gain an understanding of what is happening in their own and other sectors. Understanding how other businesses are coping with – and managing change – helps our clients as they consider how to positively leverage these changes, turning potential threats into opportunities.
Often, the Norman Broadbent Group can provide insight which helps a client shape a ‘new’ role. In addition, we can provide insight into market trends and – critically for some clients – conduct market due diligence via research to assess whether the Talent actually exists! This kind of valuable insight ensures clients de-risk a hiring process where possible saving both time and money.
As the world of work changes, forward looking companies are embracing what Deloitte refer to as the ‘open talent economy’ (Deloitte Global Human Capital Trends, 2017). Simply put, the open talent economy is about organisations engaging and partnering with specialist Talent – be it on a full-time or more flexible basis – to meet organisational needs. This specialist Talent could be external to the organisation and engaged on a project-by-project basis.
Whilst the concept of engaging freelance professionals is not new, the Interim Executive space is changing to meet new and more complex organisational demands. The traditional use of Interims for Change/Transformation Projects is still core. However, more contemporary models are now evolving whereby whole teams are engaged with clear delivery objectives linked to a risk and reward structure. Although traditionally the preserve of the ‘Big Four’, clients are now eschewing large consultancies for more agile and cost effective solutions provided by firms such as Norman Broadbent Interim.
As specialists in Talent Acquisition & Advisory services, Norman Broadbent understands these challenges be they Talent or organisational. With a portfolio of services ranging from Research & Insight to Interim, through to Leadership Assessment and Executive Search, Norman Broadbent is uniquely positioned to help our clients face these challenges and be fit for the future.
If you would like to hear more about how we may be able to help your business, please contact us using the information below for an initial confidential discussion.
Managing Director, Financial Services
DD: +44 (0) 20 7484 0116
Director, Norman Broadbent Executive Search
DD: +44 (0) 20 7484 0119
Managing Director, Norman Broadbent Interim
DD: +44 (0) 20 7484 0153