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The Talent Forecast for 2024: CXOs Must Empower Their Greatest Asset
The Talent Forecast for 2024: CXOs Must Empower Their Greatest Asset

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As we enter 2024, the talent landscape shows no signs of settling down after the seismic shifts of the past two years. From the Great Resignation of 2022 to the layoffs and hiring freezes of 2023, employees and employers alike have been thrown into a constant state of flux.

But one thing is certain – talent has hit the pause button on risky career moves and now values job security above all else in what is being dubbed ‘the Big Stay.’ This reality makes having a sharp, forward-looking talent strategy more crucial than ever for CXOs looking to fortify their greatest asset – their people.

So what does the 2024 talent forecast look like? And how can business leaders position themselves to attract, retain, and nurture the workforce of the future?

Here are five key trends that will shape the talent battleground this year:

  1. Hybrid Work Models become the Norm

Like it or not, the hybrid work model is here to stay. With over 70% of companies embracing this flexible arrangement during the pandemic, employees have grown accustomed to the benefits of splitting time between the office and home.

But making the hybrid model work is easier said than done – CXOs must design holistic policies that provide an equitable experience for all employees, whether co-located or remote. Spontaneous ‘watercooler’ conversations may spark innovation, but mandating an office-centric culture risks alienating digitally-native Gen Z employees who crave independence.

Striking this balance won’t be easy, but inclusive strategies like fly-in events, job rotations across sites, and in-person onboarding can help companies attract talent while allowing location flexibility. The hybrid work model will keep evolving in 2024 as companies seek the ideal equilibrium.

  1. The Rise of the Intrapreneurial Leader

With thousands of global roles centered in India’s booming Global Capability Centers (GCCs), CXOs must make developing intrapreneurial leaders a top priority this year. Why? Because with over 20,000 of these strategic positions estimated to be housed in India by 2030, nurturing homegrown innovators will be key to maintaining a competitive edge.

Companies need to spot and cultivate this entrepreneurial spirit from within by providing stretch opportunities like global assignments, cross-functional initiatives, and access to external incubators. The goal is creating a culture where talent gets real-world experience and exposure by applying an intrapreneurial mindset – moving beyond textbook lessons to generating tangible value. It is this type of exposure that will allow the leaders of tomorrow to gain vital perspective for navigating disruptions.

  1. A case for Perennial Upskilling and Reskilling

In today’s age of AI and Automation, skills become outdated practically overnight. With estimates suggesting that half the global workforce could be impacted by skills redundancy within just three years, continuous reskilling in emerging technologies is no longer a nice-to-have – it’s an existential necessity.

But skilling isn’t just an isolated HR function. For CXOs, instilling a culture of perpetual learning equips teams with the resilience required to pivot and drive new revenue streams amidst rapid market shifts. From setting ambitious upskilling targets to partnering with online course providers, investing in cultivating future-proof capabilities like AI, Cloud Computing, IOT, and Cybersecurity should top the agenda.

With generational preferences diverging, tailored skilling frameworks that motivate all employees – from digital-native Gen Z to retirement-planning Boomers – are also critical. Cross-hierarchical, bi-directional skilling demonstrates a mutual commitment to sustained employability. The result? Human capital transforms from a cost center into a differentiating performance engine.

  1. Using AI to Deliver True Hyperpersonalization 

With advanced workforce analytics becoming table stakes, CXOs can capitalize on AI to gain unprecedented visibility into organizational behavior patterns – from identifying flight risks to surfacing experience gaps. But the real opportunity lies in applying these insights to deliver hyperpersonalized employee experiences at scale.

Imagine proactively tailoring development plans or work-life flexibility based on individualized needs before issues even arise. Little gestures like offering wellness stipends or passion project time show the company sees and values each employee as a human being, not just a replaceable cog. Ultimately, it cultivates the mutual care, trust, and psychological safety that underpins organizational stability. By responsibly leveraging technology and data in 2024, CXOs can humanize the employee experience in ways that set their cultures apart.

  1. Authentically Living your Employee Value Proposition

Creating sustained employment brand authenticity is pivotal for attracting Gen Z talent that will comprise an estimated 70% of the workforce by 2030. These digital natives aren’t just pursuing paychecks – they want purpose, impact, and flexibility. Articulating an employee value proposition that aligns meaningful work with individual passions is the only way to win the intensifying talent wars.

CXOs must go beyond just touting the company’s tech competencies. Building a distinctive employer brand requires amplifying differentiated cultural pillars around holistic well-being, social consciousness, and work-life harmony. An authentic, consistently narrated story about the fulfilment employees can experience – not just anecdotes about cool tech projects – will make a culture genuinely resonate.

After all, purpose and culture can no longer be afterthoughts in today’s business climate. They must take center stage as the non-negotiable hallmarks that make an organization genuinely magnetic to digitally-native potential hires actively seeking environments where they can drive change.

Putting Purpose into Practice in 2024

Keeping pace with relentless talent shifts in 2024 requires a fundamental mindset reset from CXOs. In the face of uncertainty, employee empowerment must become a defining attribute of your organizational identity – not a box to be checked.

Trust forms the bedrock for fostering an ecosystem where teams feel safe to bring their full selves and thrive both personally and professionally. While shareholder returns still matter, treating talent as an expendable resource is unsustainable. True leadership excellence shines through an unwavering commitment to keeping employees engaged, enabled, and inspired to achieve collective success.

Boldly reimagining how work gets done, how skills stay future-proof, and how employees experience purpose should top the agenda for CXOs in 2024. Because when your greatest asset is truly empowered, the rest will follow.  That’s a forecast CXOs can bank on.


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Founded in 2002, Zinnov is a leading global management consulting and strategy advisory firm, with a presence in 10 global locations. Over the last 22 years, Zinnov has partnered with Global Enterprises and Fortune 2000 companies across their value creation journeys to develop actionable insights – across revenue, talent, innovation, scale, and optimization. Zinnov enables companies to develop and optimize a global engineering footprint through center setups, technology and functional Centers of Excellence (COEs), portfolio optimization, partnerships, and real-time data/ insights – through its unique GCC Accelerator Platform (GAP) offering. This multi-lever approach helps Zinnov’s clients achieve higher R&D efficiencies, innovation, and productivity via an immersive and highly networked model. Zinnov’s expertise also includes advising global PE firms in asset shortlisting, target evaluation, due diligence, and value creation for their portfolio companies through a globalization lens.

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