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Optimizing Your Approach to Human Resources for the Digital Age

HR Strategy | Jul 14, 2023

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McKinsey discusses the changing dynamics of the technology talent market and the need for traditional organizations to adopt an end-to-end approach to HR to attract and retain top tech talent.

  1. Sourcing: The article emphasizes the importance of focusing on skills rather than pedigree when filling critical technology roles. Companies should understand which roles create the most value and target the skills required for those roles. This approach can reveal diverse and unexpected sources of technology talent.
  2. Supporting: HR and technology leaders should use digitization wherever possible to empower people and streamline processes. Digital tools and approaches, such as psychometrics and generative AI, can help to accelerate hiring processes and bring new employees up to speed on critical tasks and organizational objectives.
  3. Scaling: To sustain a skills-based working model, HR and technology leaders need to ensure continual upskilling and reskilling. This is the only way to ensure that the organization is meeting individuals’ ever-evolving development needs and keeping up as new tools and technologies emerge.

See:  Canada’s First-Ever Tech Talent Strategy: Unpacking Canada’s Groundbreaking Immigration Announcement

HR strategies to stay ahead:  Fintechs and enterprises should continually reassess

Consider implementing a skills-based approach to hiring, leveraging digital tools to streamline processes, and making continuous learning a cornerstone of your HR policy. Regularly revisit your talent profiles to ensure they align with your current needs, and don't overlook the potential for growth within your existing workforce.

  • Prioritize skills over pedigree when hiring for technology roles. This can help uncover unexpected talent sources and ensure that the most valuable roles are filled with the right expertise.
  • Use digital tools to streamline HR processes, from hiring to onboarding and training. This can improve efficiency and empower employees.
  • Continuous Learning: Ensure that upskilling and reskilling are integral parts of your HR strategy. This will help keep your workforce adaptable and ready to handle emerging tools and technologies.
  • The fast-paced nature of the tech industry means that talent needs can change rapidly. Regularly reviewing and updating talent profiles can help ensure that your organization stays ahead.
  • Look within your organization for potential talent. Offering existing employees opportunities for development and advancement can help reduce turnover and improve morale.

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In conclusion, the rapidly evolving technology landscape necessitates a shift in traditional HR practices, particularly for fintechs and enterprises.  By implementing these strategies, organizations can not only attract top tech talent but also foster a resilient and engaged workforce, thereby accelerating their digital transformation journey and gaining a competitive edge in the market.


NCFA Jan 2018 resize - Optimizing Your Approach to Human Resources for the Digital AgeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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