The war for digital talent has begun14 October, 2014 / Articles
In the war for digital talent, one killer statistic stands out: an alarming 90% of companies lack digital skills. That statistic alone should spur even the most apathetic of organizations into action. However, many are not heeding the warning signs: only 46% of companies are investing in digital skills and only 4% of companies we interviewed are aligning their training efforts with their digital strategy. This is a surprising and worrying trend, particularly given that skills are so key to success in the new digital economy.
Inaction is not the only issue — innovation is also a concern. Many organizations continue to lean on traditional methods to build skills, such as recruitment drives and training. More radical methods (such as targeted company acquisitions) and more innovative approaches (such as setting up start-up incubators) are relatively unused, with just 13% of companies tapping into such approaches.
This conservatism is surprising given the success stories that exist. Walmart Labs is a good example of an organization that has built a strategic acquisition portfolio of mobile, social and technology firms. These companies have ranged from mobile-related agencies focused on product development — Small Society, search engine Kosmix, point-of-sale development startup Grabble — to a real-time search engine called OneRiot . These targeted acquisitions build skills in key technology areas across the business.
Similarly, on the incubator front, the Nike+ Accelerator program provides selected start-ups with the opportunity to develop products on the Nike+ and NikeFuel platforms. Chosen companies get support and access to Nike’s development tools, office facilities and technical platforms. Nike also supports these companies by providing access to Nike executives and external mentors . This sort of incubator approach gives you access to talent that would be difficult to source through traditional means.
Innovation does not need to stop with acquisition and incubation. Consumer goods major P&G entered into an employee exchange program with Google. The initiative was launched to scale up its Internet marketing initiatives, and enable cross-pollination of skills.