Anne Fulton, Co-Founder and CEO of Fuel50, talked about “The New Talent Economy” at FuelX New York last week. She shared her insights on some new workforce demographics and highlighted how organizations can adapt to these, to be ready for the future.
Here are a few key insights from Anne Fulton at FuelX New York:
- “We have some new workforce demographics … we need to think differently about the talent within our organizations.”
- “There is a huge demand for transparency … There is a huge demand for inclusiveness and fairness in the way that we are interacting with our people.”
- “Employees have a voice that we have not seen in this way before and we really need to respect across all our interactions with our talent.”
- “If you deliver transparency to your people, fairness and inclusiveness will follow.”
Transparency (in terms of careers, futures and business decision-making) is a hot topic.
As Anne Fulton mentions, “If you can deliver that career path transparency to your people (where are the opportunities, where can they go), then that’s going to give you a beautiful workforce skills visibility across your organization.” In fact, “the better job you do of understanding the skills and talents that you have within your organization”, Anne went on to add, “the better intelligence you’re going to have in terms of your succession and talent pipe.”
How can companies deliver career transparency?
1. Put your employees in the driving seat.
Provide your people with the right tools so that they can re-skill for the future. Give them everything they need to go on that journey, and ensure that your leaders have the skills and intelligence to be able to shape their teams and their workforce.
2. Create an inclusive talent marketplace.
Enable everyone across the organization to put their hand up for projects, stretch assignments and experiences (outside of their own role).
3. Build a culture of talent sharing.
Help your leaders to understand the benefits of talent advocacy. Plus, share with them that the sharing marketplace is going to deliver greater business productivity.
If you can provide your people with a future, Anne Fulton notes, you’ve got a greater chance of retaining talent within your organization — and that is central to Fuel50’s business mission.
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