January 6, 2020 Is Lack of Talent Holding Back Digital Transformation? According to the Latest Research, Yes — But It Doesn’t Have To
Business is changing and, for many enterprises, the traditional labor model hasn’t been keeping up. As technology becomes more important and businesses embrace the digital age, many are finding themselves limited by a talent shortage. Indeed, HFS research shows that 20% of businesses rank a lack of in-house talent as the number one problem they face when it comes to digital transformation.
How can businesses address this growing problem? By rethinking how they source talent. In the research, HFS found that Topcoder’s innovative model is indeed paying off for our clients. The report details how effectively using crowdsourcing to leverage new talent-sourcing models has driven enterprise efficiency for customers like Microsoft and T-Mobile, allowing them to deliver high-quality projects quickly. Thanks to the more than 1.5 million members in the Topcoder community, our parent company Wipro’s Business Enablement Factory has been at the forefront of this paradigm shift in the talent market.
Fast, Efficient Solutions to the Talent Gap
Through the Business Enablement Factory, Topcoder has helped major industry players address talent gaps using enterprise on-demand talent models. The report explores how Microsoft and T-Mobile have used Topcoder to implement groundbreaking software design, data science, and development work, and it highlights the benefits and challenges faced together along the way. HFS reports that open talent models like enterprise crowdsourcing—a delivery methodology we’ve pioneered and honed over nearly twenty years—delivers simple access to world-class digital and data science talent. This enables our public and private sector customers to begin projects faster and speed-up digital delivery dramatically.
The report also details the successful framework used by Business Enablement Factory, CROP, which drives business outcomes in four phases: (C) customer experience, (R) revenue, (O) operational efficiency, and (P) people and partner experience. As the report illustrates, this innovative thinking—and its focus on business outcomes—leverages all the power and flexibility of the Topcoder community, drawing on the depth and breadth of our members’ skill sets to solve complex problems quickly and at scale.
Success Built with the Right Talent
With constant demand for innovation in business outcomes, on-demand talent models can create momentum and drive success. But outcomes depend on the quality of the talent itself. To get results, it is vital to work with a platform with the right incentives, talents, and skillsets for your business’s unique challenges. As the report shows, the Topcoder approach and community have driven successful results for enterprises like Microsoft and T-Mobile with an international community capable of handling each phase, from initial development to testing and QA, able to solve niche development problems through on-demand specialized knowledge.
Read the full report from HFS to learn more about the talent gap and how businesses are using crowdsourcing to innovate, implement, and, ultimately, come out ahead.