The structure of the way workforces operate is changing drastically therefore organizations need to rethink the ways in which they recruit, engage, develop, reward and lead their workforces. With technology, every company within every industry has access to be digital and operate at a global level.
The conventional hierarchical structure of reporting and accountability usually exists within many companies. In terms of the digitalized world whereby organizations operate largely using networks there is no formal authority allowing individuals to initiate leadership and take accountability for their roles. Leadership in the digitalized world would be less about leading people and more about arranging the ecosystem of work.
Digital tools such as social media and cognitive assessments can be used for recruitment. Organizations use tools that match the candidate to the job specification through a job fit score based on career experiences and skills. Social media allows organizations to review the candidate during the recruitment process.
In the digital era, talent and innovation are key factors affecting growth within most organizations. Elite companies have financial advantage in securing top talent. Expectations are met, not only in financial terms but also higher goals such as the impact on the environment, ethics, competition, and adherence to the labour law.
Data analytics may be used by organizations to effectively recruit, develop, retain and improve the overall business performance. This enables organizations to identify problem areas as well as prioritize future analytics in terms of investments and employee satisfaction.
The Fourth Industrial Revolution is still in its early stages which is rather unpredictable and uncontrollable. Organizations therefore need to understand and prepare for the digital future.