N Chandrasekaran, Chairman, Tata Sons, in his virtual address at the Confederation of Indian Industries (CII) business summit on “Being Future Ready” drew attention to the fact that to integrate multiple races in top leadership, as the US and UK have done, the culture of being open to talent is most important for the future.
“Three words are very important in business – open, transparent, and integrated. It’s about training the culture to be open,” he said at the summit. He further opined that it is not about nationalities but about the need for a particular skill set of a person and integrating him well into the company for greater performance. He added, “Talent is important but a support system is equally important.”
According to the Tata chief, more and more technology platforms will come up to engage with talent which will allow the ability to access talent 24/7 from any part of the world.
“Skills will become far more important than expensive formal education. The whole talent architecture will change, not only in the service industry but across all industries,” he said.
Moreover, even the manufacturing industry will witness tidal changes. He added, “There is going to be advance manufacturing, new ways of manufacturing things, robots and bots will play a significant role.”
Chandrasekaran stressed on this fifth trend – global talent – wherein businesses will need to apply their minds. He further claimed, “There are a lot of challenges in attracting talent and the models have to shift away from the traditional models. There will be new technology platforms attracting talent and some of the talents will flow.”Some of the other megatrends which Chandrasekaran talked about at the “Being Future Ready” CII session for businesses were digital adoption, prioritising sustainability, fundamentally rebalancing global supply chains, and shifting attention towards health and wellness-related value propositions.