As Happiest Minds continues to expand throughout the country, there is an important journey of setting up competency centers while keeping the nuances of each region in mind. In this blog, I share some of the key considerations and best practices in developing competencies that are crucial to boost the growth of any location. In this blog, we will look at:
A) The driving forces for building location-specific competencies
B) Critical considerations in formulating a location-specific competency strategy
C) Key success factors in implementing a location-specific competency strategy
A. The driving forces for building location-specific competencies:
Competitive demands and customer pressure are significant drivers of competency development within organizations and across entire locations. As markets evolve and customer expectations rise, both companies and locations must continuously develop their workforce’s skills to remain competitive and adapt to changing demands. Here’s a closer look at how these forces influence competency development:
- Adapting to rapid market changes
- Technological advancements: In today’s fast-paced world, technological innovations such as AI, automation, and data analytics are transforming industries. Businesses and locations need to develop new competencies to keep up with the rapid adoption of these technologies.
- Globalization: Markets are no longer limited by geographic boundaries, making it necessary for companies and locations to equip their workforce with global competencies such as cultural intelligence, multilingualism, and digital skills to compete internationally.
- Meeting rising customer expectations
- Demand for higher quality: Customers today expect superior quality, efficiency, and customization in the products and services they consume.
- Speed and flexibility: Customers want faster delivery times and flexible services. This puts pressure on organizations to develop competencies in agile project management, logistics, and lean processes to enhance efficiency.
- Customer-centric skills: Customers are becoming more involved in product and service creation. Developing competencies in customer engagement, communication, and feedback collection is critical to addressing these needs.
- Rising competition in every sector
- Innovation and differentiation: To stay ahead of the competition, organizations must foster a culture of innovation.
- Cost efficiency: Competitive pressure requires organizations to maximise output while minimizing costs. Developing competencies in cost management, process optimization, and resource utilization is critical for maintaining profit margins while competing on price.
- Talent attraction and retention: Organizations that provide training, growth opportunities, and skill development are more likely to attract and retain high-performing employees.
- Regulatory and industry standards
- Compliance with standards: Developing competencies in regulatory knowledge, compliance processes, and industry standards is essential to avoid penalties and maintain credibility in the market.
- Pressure for cost-effective solutions
- Operational efficiency: Customers often demand cost-effective yet high-quality solutions. Developing competencies in lean manufacturing, process improvement, and operational efficiency is crucial for businesses to remain competitive while meeting price expectations.
B. Critical considerations for formulating a location-specific competency strategy
When creating a location-specific strategy for competency development, it’s essential to consider various factors unique to the geographic area, its economy, and its workforce. The aim is to align skill-building efforts with local needs, opportunities, and potential for future growth. Here are the key factors to consider:
- Local industry needs and trends
- Industry specialization: Identify the dominant industries or sectors in the location (e.g., technology, manufacturing, agriculture, tourism) and focus competency development on skills that are in high demand within these sectors. For instance, in Pune we have consciously focused on industries like Automotive IT, Product Development & Engineering, FinTech and e-commerce, which are much in demand.
- Emerging industries: Assess potential growth areas such as green energy, digital services, or healthcare, that may create new job opportunities and require specific skills. In this context, I’m happy to share that Pune has emerged as a hub for industry research and STEM focused areas.
- Existing skill gaps
- Conduct a skills gap analysis: Identify the current competencies of the local workforce to identify gaps in essential skills needed for economic growth.
- Engage with local businesses and industry leaders: Gather insights on the specific skills they need but are struggling to find in the local workforce.
Identify in-demand skills: Skills that are driven by technological advancements and automation trends, such as cloud, data science, AI, robotics, and digital marketing.
- Training infrastructure
- Evaluate partners’ capacity: Assess the capacity of partner institutions to offer relevant training programs and certifications. Ensure strong partnerships with these institutions for skill development initiatives.
- Online learning and flexibility: Consider digital or remote learning solutions for locations with limited access to traditional education as well as for learners who require flexible schedules.
In addition to online channels, one must continue to focus on building relationships at the ground level with local institutes that have a consistent track record. In Pune, a couple of institutes that come to mind are Pune Institute of Business Management (PIBM) for IT Training and College of Engineering Pune (COEP) for IT Labs and Training.
- Technological infrastructure
- Technology-driven skills: Focus on developing competencies in emerging digital technologies like cloud computing, cybersecurity, data analytics, and artificial intelligence, as these skills are increasingly in demand across various industries.
- Access to innovation: Support the establishment of innovation hubs, incubators, and co-working spaces where individuals can learn, collaborate, and develop new ideas, fostering an ecosystem of continuous skill development and creativity.
One of the Innovation hubs in Pune is Science and Technology Park (STP) which focuses on technology, software development, and advanced sciences. Companies can benefit by obtaining a single source that can provide services focused on office space, technology infrastructure, and mentorship for start-ups, access to funding channels, R&D resources, and industry partnerships.
- Adaptability and futureproofing
- Learning culture: Promote a culture of continuous learning and skill acquisition that allows teams to adapt to industry changes, technological disruptions, and economic shifts over time.
- Soft skills development: In addition to technical skills, emphasize the importance of developing soft skills such as leadership, communication, emotional intelligence, and critical thinking, which are increasingly important across all industries.
3. Key success factors in implementing a location-specific competency strategy
- Work organization:
- Clearly defining roles and responsibilities to ensure everyone understands their contributions.
- Develop specific job descriptions that outline the duties and skills required for each position.
- Promote skill development by encouraging employees to rotate through different tasks or enhance their current roles.
- Structure: Combination of functional and project-based structures, allowing employees to work across different teams.
- Communication systems: Implement tools and platforms such as project management software, email and messaging applications for employees to communicate and work together effectively.
- Meetings and reporting: Establish regular communication through meetings, reports, and feedback mechanisms to ensure alignment and coordination among teams.
- Scheduling and planning: Ensure that tasks and projects are appropriately scheduled, and deadlines are met.
- Employee motivation and engagement: Empower employees with greater autonomy in their work and decision-making processes to boost engagement and innovation.
- Work Environment: Promote the physical and psychological well-being of employees by providing safe, healthy, and supportive workspaces.
Conclusion
Developing a location-specific competency development strategy requires a deep understanding of the local economic environment, workforce demographics, industry needs, and global trends. By taking these key factors into account, a strategy can be tailored to not only address current skill gaps but also prepare the workforce for future opportunities and challenges, ensuring long-term growth and competitiveness for the location.
serves a dual role at Happiest Minds as the Location Head for Pune and as the Microsoft Practice Director for Product & Digital Engineering Services. With extensive experience in modernization and emerging technologies, he is passionate about driving growth in his location and enhancing his team’s capabilities to tackle customer challenges. With over 25 years of experience in leading IT services companies, Kiran Chandran R holds a diploma in advanced computing from CDAC and a B.E. in Electronics and Communications.
