Phoenix, AZ – September 11, 2019
Infosys Knowledge Institute (IKI), the thought leadership and research arm of Infosys, today unveiled market research titled ‘Infosys Talent Radar 2019.’ The report revealed several insightful findings, most importantly about the talent famine, skills in high demand, the rising importance of soft skills and the barriers to talent transformation across global enterprises.
What’s driving the demand for digital talent?
According to the research, although nearly all large enterprises are pursuing improvement initiatives, digitizing the business is less about disruption and more about meeting focused objectives which include better understanding of customers and markets (46% of respondents), customer experience (45%), increasing productivity (40%), and employee experience (35%).
Which skills are in greatest demand?
Meeting the need for talent – Talent Readiness Index
Digital initiatives require skills that can and will evolve. Organizational processes and culture determine the readiness to meet any talent need. Infosys analyzed five key areas on how well respondent companies were positioned to meet their talent needs – Planning, Hiring, Training, Incentives, and Workplace.
From their responses to questions in each of these five areas, Infosys developed a Talent Readiness Index. The research team sorted companies by their index score, and three distinct clusters emerged — Followers, Challengers and Leaders.
What sets leaders apart?
Barriers to talent transformation
Infosys looked at two perspectives on the barriers that prevent sufficient demand-supply match of talent — tangible and intangible barriers to talent transformation.
Among the tangible barriers, lack of budget is the biggest barrier to repurposing efforts, followed by organizational issues, lack of management awareness or support, and inadequate talent management plans.
Among the intangible barriers, learnability received short shrift in the research, and it limits the tremendous potential of reskilling as a competitive advantage for companies that embrace learnability. Undervaluing learnability limits potential of other talent initiatives.
What action to take?
Infosys identified four approaches that can help companies prepare themselves to address the talent needs of today and prepare for those of the future. For each approach, leader and follower categories have been designated to describe good practices and actionable recommendations.
Pravin Rao, Chief Operating Officer, Infosys, said, “There is not just a talent war – it’s a famine. To succeed, companies must hire, develop, and retain talent better than their competition. As enterprises progress in their digital journeys, the winners will be those who utilize multiple hiring sources and reskill workers in a culture of lifelong learning – invest in their people, who are the ultimate differentiator in a commoditized world. This is further validation of Infosys’ commitment to continuous learning and reskilling that has been a bedrock of our success for over three decades.”
For a full copy of the report, please visit: https://www.infosys.com/navigate-your-next/research/talent-radar/
In July 2019, the Infosys Knowledge Institute conducted an online survey using a blind format, attracting responses from more than 1,000 CXOs and other senior-level respondents from companies with revenue greater than US$1 billion. Respondents represented multiple industries and were from Australia, China, France, Germany, India, the United Kingdom and the United States.
To gain additional qualitative insights, we also conducted primary interviews with 20 industry practitioners and subject matter experts.
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
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