If the industrial sectors of the western world wish to compete on the international market, they must either justify their higher costs or find a means of reducing them. Unsurprisingly, many companies have turned to technology as the answer.
That being said, few have taken full advantage of digital technologies to drive growth and transformation. The advent of Industry 4.0 has seen a greater emphasis on combining the physical and digital worlds in ‘smart factories’. With sophisticated monitoring tools and virtual digital models, machines can increasingly self-diagnose problems and make decisions. However, a recent report by KPMG highlights that a high majority of CEOs do not expect their organisations to realise these advancements quickly, despite pressure from investors for speedy results.
Industrial organisations need to identify standout individuals who see the possibilities of these rapidly developing technologies and how they can be used to increase collaboration and efficiency. This is easier said than done, however, as the global sector is in the midst of a talent war which demands innovative approaches to secure critical business talent.
Thinking outside the box when it comes to talent acquisition will not only be vital to an organisation's growth and development but it will also influence their ability to meet operational demands.