Have you heard of the term VUCA? (pronounced voo – ka). It is a great ex-military inspired acronym that sounds like a form of witchcraft when you say it out loud!
VUCA describes the unpredictable and chaotic business, economic, and environmental upheavals that we are experiencing not just in the UK, but globally. But what does VUCA stand for?
Volatility – where things change fast with no predictable trend or repeatable pattern
Uncertainty – frequent major “disruptive” changes - preparing for “what will come next” is extremely difficult
Complexity — where there are numerous difficult-to-understand causes and effects involved in a problem
Ambiguity – where the “who, what, where, when, how, and why” behind the causes are hazy with the potential for misinterpretation.
- The extensive use of social tools like Facebook, Twitter and LinkedIn to find talent. Revenue numbers released on 7 February 2013 show LinkedIn brought in more total revenue for the year than did Monster and its fourth-quarter recruitment revenue alone was 90% above the same quarter in 2011.
- The building of in-house Executive Search capability – the likes of Microsoft are snapping up headhunters to work for them in-house. The potential savings in search fees and the ability to be pro-active in the search for top talent makes an internal approach look very attractive in most cases.
- The use of psychological assessment tools such as LAB Profile to uncover much more about a candidate's ability to respond to stress and deal with change than the traditional skills and competencies approach. Skills need to be learned and have a long lead time, whereas motivations are innate and predict how a candidate is likely to perform at work.
To your talent management success in a VUCA world!
Recrion is a specialist in career and talent management, and works with organisations to streamline their recruitment and retain and motivate their employees. For more information contact us on +44 (0)1780 484910 or visit www.recrion.co.uk