Many legacy companies would like to transform themselves into agile, talent-first organizations. But when some CEOs in this position look at the people they employ, they discover a problem: a swath of their existing team doesn’t have the necessary skills or metabolism for change to meet the new challenges.
How Volvo Reinvented Itself Through Hiring
The automaker realized that today’s cars are computers on wheels.
March 12, 2018
Summary.
Volvo’s actions offer a textbook case in how to go outside the company to retool your workforce for a transformational initiative. CEOs must have a strategy for “talent M&A” — that is, how they will aggressively target pools of external talent to keep ahead of new strategic opportunities. This means expanding their talent horizon, especially when the biggest threats and opportunities may come from out their traditional industry. And it means implementing the transition with care to avoid “organ rejection” of externally sourced talent. Reaching outside to transform your company is sometimes necessary, but it’s always complicated. Volvo offers a road map of how to pull it off.
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Change may be the only constant in today's organizations. Here's how to lead through it.
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New!
HBR Learning
Change Management Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Change Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Change may be the only constant in today's organizations. Here's how to lead through it.