The competition for talent will be the biggest challenge facing global businesses in coming years, said participants in the “The Worldwide Race for Human Capital” panel today at the Milken Institute Global Conference in Los Angeles.
Joel Kurtzman, executive director for the Center for a Sustainable Energy Future at the Milken Institute, moderated the panel. Joining him were Gary Burnison, CEO of Korn/Ferry International; Stedman Graham; Chaly Mah, CEO of Deloitte Asia Pacific; Vineet Nayar, CEO of HCL Technologies; and Kodumudi “Radha” Radhakrishnan, executive adviser for Digital Intelligence Systems and former vice president of information technology at Boeing.
Among highlights of their discussion:
- Old models of leadership don’t work for younger generations, Nayar said. His home growing up was “command and control,” he said, but his relationship with his children is much more collaborative. They bring those same expectations into the workplace.
- A company’s mission can’t be only about making money, Burnison said. Leaders must articulate what contribution the company makes to the world.
- The big trend in career development is mass customization, Mah said. People don’t look for the same things from their jobs. Generation Y workers might be looking for global opportunity and variety in their work, not lifetime employment. Older workers might value more money.
Want to learn more about Nayar’s leadership philosophy? Check out SmartBrief’s interview with him last year: