In the ever changing marketplace, one of the lone constants is the act of disruption —an invariably looming pressure arriving in many forms, from a devastating natural disaster to an experienced company hacker to an economic depression thinly veiled as a recession.
Truly resilient companies do more than freeze frame the issue and wait for permission on how to address it. These 21st century organizations understand that the key to company resilience in the face of chaos is talent, and employers’ ability to identify, recruit and retain it swiftly and effectively.
How Talent Can Impact Growth
One of the most salient examples of a company leveraging talent to face a changing landscape following disruption is the Affordable Care Act (ACA), according to Camille Nicita, President and CEO at Gongos, Inc.
“The introduction of [the ACA] virtually pulled the rug out from underneath many major healthcare providers, as long-maintained strategies become obsolete and competition increases,” Nicita said.
But some healthcare providers, including a major Midwest provider, rose to the challenge, employing a new business-to-consumer (B2C) model as a compass, Nicita said. They sought new professionals with cross-functional team collaboration skills in a customer-centric atmosphere.
Company resiliency can be built in a variety of ways. But for many organizations, like this healthcare provider, the solution for an exterior conflict should be sought out internally. And in the case of this Midwest provider, a reframing of company talent was the key to successfully transitioning to the Affordable Care Act guidelines.
Nicita believes talent is imperative to company resilience, and that by mimicking the growth of an evolving capital marketplace, talent can improve agility – a core characteristic of talent.
“Highly sought-after talent will be more apt to continuously learn and embrace pivot strategies,” Nicita said. “The onus on companies is to develop harder-to-discern and broader-reaching competencies such as problem solving, collaboration and adaptability, as talent will need to constantly mirror the evolving marketplace.”
Like Nicita, Associate Dean for MBA and Professional Master’s Programs at Eli Broad College of Business at Michigan State University Glenn Omura embraces agility.
Omura said a number of changes, ranging from shifts in the economy, to developments in global political climates, to a new market opportunity, can all be handled with the same successful approach.
“…The winning approach is the company that can react the swiftest and treat those changes as opportunities to jump into quickly,” he said, “Or, if they happen to be threats, how to cover the vulnerabilities of the company as they occur.”
Being proactive about unplanned events is a learning experience for companies. Some of the best research can be found from past experiences of the marketplace, according to John Copeland, Global Lead, Customer Analytics and Insights at eBay.
“To some extent, imagining the company of tomorrow is imagining the company of today,” Copeland said.
Copeland said when looking backward, it’s important to note the changes that took place throughout the century and to be able to project that knowledge forward to analyze the structural changes in the marketplace, helping to better anticipate disruptions.
Andy Norton, Executive Director—Global Market Research at General Motors, attributes having vision and being able to anticipate massive shifts in the marketplace as part of his company’s critical path.