Internal Talent and Market Freshness Bring Success

In today's rapidly evolving world, adaptability and the swift acquisition of new knowledge and skills are paramount for employees. Companies face significant challenges in keeping pace with technological advancements, particularly those driven by artificial intelligence, which have become an everyday reality.

Consequently, simply recruiting new talent from the market is insufficient. Businesses must prioritize continuous investment in their existing workforce to ensure employees maintain relevant knowledge and competencies, and crucially, to prevent them from leaving, especially high-value talent. However, a significant hurdle exists: according to LinkedIn data, a staggering 86% of companies globally struggle to promptly identify the skills their employees possess, the skills they require for their roles, and subsequently, to address these gaps through training.

Furthermore, companies encounter difficulties in talent mobilization. Nine out of ten employers express concern over employee turnover, with three-quarters reporting significant recruitment challenges. They struggle to find candidates with the specific, niche skills needed, which is unsurprising given the rapid pace of change in required competencies, potentially meaning desired profiles do not yet exist in the market. The most sensible approach is to cultivate these skills internally through employee investment and systematic talent development.

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We pay special attention to identifying employees with development potential and the effective transfer of knowledge between generations.

Companies like Gen energija, operating in the energy sector, view nurturing their own talent and investing in future leaders as fundamental to their future. They explain that succession planning is a vital part of HR development, essential for maintaining knowledge and competencies crucial for safe and reliable operations. "We pay special attention to identifying employees with development potential and the effective transfer of knowledge between generations," they state. This has traditionally been achieved through development programs, mentorship, involving employees in challenging projects, and planned experience acquisition. However, the introduction of a formalized succession planning process will enhance the identification of key roles and competencies, and the timely preparation of future role-holders.

Hana Čuček, HR Director for Slovenia at Danfoss Trata, echoes this sentiment, emphasizing that succession planning extends beyond leadership roles to encompass business continuity, knowledge transfer, and the development of core competencies. "We identify talent early among employees and new hires and develop them through discussions with managers, development plans, mentorship, more demanding projects, internal mobility, and international opportunities. This is not a one-time formality but a living process linked to business strategy," she stressed. Both companies highlight collaboration with the educational system and inspiring young people towards technical and scientific professions as strategic directions for securing future workforce needs.

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We identify talent early among employees and new hires and develop them through discussions with managers, development plans, mentorship, more demanding projects, internal mobility, and international opportunities. This is not a one-time formality but a living process linked to business strategy.