Cultivating Talent for Relevance in the Fourth Industrial Revolution
November 13, 2024 – The fourth industrial revolution is happening now. Building on the foundation of the third industrial revolution—which was defined by advancements in cloud computing, big data, social media, e-commerce, and mobile technology—a new wave has emerged. This era is marked by the rise of the Internet of Things, 3D printing, artificial intelligence, and biotechnology, according a report from Ward Howell International.
“We already know that much of these rapid advancements not only disrupt business models across industries, but redefine the way we live today,” the report said. “The human capital industry is no different, often with middlemen being removed from the equation, and job seekers now having direct access to employers via online platforms that facilitate engagement and data collection.
As well, what were once perceived as “jobs of the future” are in demand here and now, the Ward Howell report explains. The firm now sees an uptick in the demand for technology and science-based roles such as data scientists, IT risk and resilience specialists, IT security managers, digital marketing strategists, and the like.
“Hiring for these may mean seeking skills that may not necessarily come with a traditional university degree, although new degree programs are emerging in response to such technology-driven demand,” the search firm said. “Because technology is reshaping business landscapes at a rapid pace, companies must have the ability to fill roles not just for the current need, but more importantly, for the future direction of their organization. Job seekers who pursue jobs of the future must possess a heightened ability to adapt to change, strong leadership skills, and strategic thinking to illuminate and forge the path forward for companies.”
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The report adds that these qualities may spell the difference, especially if years of professional experience are already a given. But while technology is on the rise, nothing still compares to the human insight in evaluating and hiring talent.
Potential Beyond the Resume
“Talent acquisition and management remain a contact sport,” the report said. “A sharp recruiter will be able to see a candidate’s potential beyond the resume. This is where the interview becomes critical and never loses its value in the staffing process.” Ward Howell has often heard from clients that chose candidates who demonstrate attributes like passion, impact, and can-do attitude over other candidates with more years of experience or advanced management courses. Personal attributes and soft skills are best observed and validated in the interview process. The report explains that this is where looking somebody in the eye and watching out for hints like body language drive the hiring decision.
6 Key Personality Traits for Disruptive Innovation Leaders
Digital transformation is no longer the sole domain of IT developers and coders. The evolution towards digital solutions is beginning to encompass all industries. Companies that hop on this train early can expect to see themselves pull ahead in terms of operational efficiency. However, embracing digital transformation comes with several challenges, including significant changes in mentality, says a report by digital-focused executive search firm Hightech Partners (HTP). “A key to navigating these challenges is having a leader at the helm that understands disruptive transformation,” said the report.
“While companies and the thriving businesses of today embrace constant change (and technology-driven change at that), what perhaps remains constant is that companies will always have people at the helm,” the Ward Howell report said. “Almost all companies take pride in its people, and this is not without good reason. It is because of this that talent acquisition will always be more personal than it is digital. And even with employers’ rising presence online to reach potential hires, this can never replace the experience job seekers have when going through the motions of landing a new job. Ironically, choosing to remain personal is the key to becoming relevant in the fourth industrial revolution that is upon us today.”
Ward Howell International is a global executive search firm with a network of more than 130 partners across 26 offices. As one of the pioneers in the search industry, the firm works with corporate boards and senior leadership to deliver immediate and impactful performance gains through better leaders, teams and organizations.
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Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
