Harvard Case - UST's Adoption of Open Talent
"UST's Adoption of Open Talent" Harvard business case study is written by Christopher Stanton, Kristen Senz. It deals with the challenges in the field of Entrepreneurship. The case study is 17 page(s) long and it was first published on : Nov 13, 2023
At Fern Fort University, we recommend that UST adopt a strategic approach to open talent, focusing on building a robust platform that fosters a diverse and engaged talent pool. This platform should integrate seamlessly with UST's existing HR systems and processes, allowing for efficient talent acquisition, management, and deployment. This approach will enable UST to leverage the benefits of open talent while mitigating potential risks, ultimately enhancing its competitive advantage and driving sustainable growth.
2. Background
The case study focuses on UST Global, a leading IT services company, facing the challenge of attracting and retaining top talent in a competitive global market. The company is exploring the adoption of an "open talent" model, which involves leveraging a broader pool of talent beyond traditional employees, including freelancers, consultants, and contractors. The case highlights the potential benefits of this model, such as increased flexibility, cost savings, and access to specialized skills. However, it also raises concerns about managing this diverse workforce, ensuring quality, and maintaining intellectual property security.The main protagonists in the case study are:
- Krishna Kumar: UST Global?s CEO, who is championing the adoption of open talent.
- Ramesh: UST Global?s Head of Human Resources, who is tasked with implementing the open talent strategy.
- The UST Global Leadership Team: They are responsible for evaluating the risks and benefits of the open talent model.
3. Analysis of the Case Study
To analyze UST?s situation, we can employ the Porter?s Five Forces Framework to understand the competitive landscape and the Resource-Based View to assess UST?s internal capabilities.
Porter?s Five Forces:
- Threat of New Entrants: The IT services industry is highly competitive with low barriers to entry, posing a significant threat to UST. Open talent can help them stay agile and adapt quickly to market changes.
- Bargaining Power of Buyers: Clients have high bargaining power in the IT services industry, demanding competitive pricing and high-quality services. Open talent can help UST offer flexible and cost-effective solutions.
- Bargaining Power of Suppliers: The talent pool is a key supplier for IT services companies. Open talent can help UST access a wider range of talent and reduce dependence on traditional employees.
- Threat of Substitute Products: The IT services industry faces competition from alternative solutions, such as cloud computing and automation. Open talent can help UST develop innovative solutions and stay ahead of the curve.
- Rivalry Among Existing Competitors: The IT services industry is characterized by intense competition, with companies vying for market share. Open talent can help UST differentiate itself and gain a competitive edge.
Resource-Based View:
- Valuable Resources: UST possesses a strong brand reputation, a global network, and a skilled workforce. Open talent can enhance these resources by providing access to niche skills and expertise.
- Rare Resources: Open talent can provide access to unique skills and expertise that may be difficult to find within traditional employment models.
- Inimitable Resources: UST?s culture and values, combined with its open talent platform, can create a unique and valuable resource that is difficult for competitors to replicate.
- Organized Resources: UST needs to develop a robust platform and processes to effectively manage and leverage open talent.
4. Recommendations
UST should adopt a strategic approach to open talent, focusing on the following key areas:
- Platform Development: Invest in a robust platform that integrates seamlessly with existing HR systems and processes. This platform should facilitate:
- Talent Acquisition: Streamlining the process of identifying, screening, and onboarding open talent.
- Talent Management: Providing tools for managing performance, communication, and collaboration.
- Talent Deployment: Matching skills and expertise with specific projects and assignments.
- Talent Pool Development: Focus on building a diverse and engaged talent pool through:
- Strategic Partnerships: Collaborate with freelance platforms, professional organizations, and educational institutions to access a wider range of talent.
- Community Building: Foster a sense of belonging and community among open talent through online forums, networking events, and mentorship programs.
- Risk Mitigation: Implement comprehensive measures to address potential risks associated with open talent:
- Security: Implement robust security protocols to protect intellectual property and sensitive data.
- Quality Control: Establish clear quality standards and performance metrics for open talent.
- Legal Compliance: Ensure compliance with labor laws and regulations related to independent contractors.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: UST?s core competency lies in providing IT services. Open talent can enhance this competency by providing access to specialized skills and expertise, aligning with the company?s mission of delivering innovative solutions.
- External Customers and Internal Clients: Open talent can help UST meet the evolving needs of its customers by providing flexible and cost-effective solutions. It can also benefit internal clients by providing access to specialized skills and expertise that may not be available within the traditional workforce.
- Competitors: UST needs to stay ahead of the competition by embracing innovative talent models. Open talent can help the company differentiate itself and gain a competitive edge.
- Attractiveness ? Quantitative Measures: The adoption of open talent can lead to significant cost savings, increased flexibility, and improved access to specialized skills. These benefits can be quantified through financial analysis, such as return on investment (ROI) and break-even analysis.
6. Conclusion
By adopting a strategic approach to open talent, UST can leverage the benefits of this model while mitigating potential risks. This will enable the company to remain competitive in a rapidly evolving industry, attract and retain top talent, and drive sustainable growth.
7. Discussion
Other alternatives not selected include:
- Outsourcing: While outsourcing can provide access to specialized skills, it can also lead to loss of control and potential security risks.
- Traditional Hiring: This approach can be time-consuming and expensive, limiting UST?s ability to respond quickly to changing market demands.
Key assumptions of the recommendation include:
- Technology Adoption: UST needs to invest in a robust platform to support open talent management.
- Talent Pool Availability: A sufficient pool of qualified open talent must be available in the target markets.
- Cultural Change: UST?s internal culture needs to embrace the concept of open talent and foster a collaborative environment.
8. Next Steps
To implement the recommendations, UST should take the following steps:
- Phase 1 (Months 1-3):
- Form a dedicated team to develop and implement the open talent strategy.
- Conduct a pilot program to test the platform and processes.
- Identify and engage with key external partners.
- Phase 2 (Months 4-6):
- Launch the open talent platform and begin recruiting open talent.
- Develop training programs and resources for open talent.
- Establish clear performance metrics and quality standards.
- Phase 3 (Months 7-12):
- Continuously evaluate and refine the open talent strategy.
- Expand the talent pool and explore new partnerships.
- Integrate open talent seamlessly into the company?s operations.
By taking these steps, UST can successfully adopt an open talent model, enhancing its competitiveness and driving sustainable growth in the IT services industry.
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Case Description
This case details the 2020 launch and subsequent scaling of UST's Open Talent initiative, a program to integrate freelancers from digital platforms into its workforce. The case highlights how the shifting post-pandemic world, including layoffs, wage inflation, and return to office policies interact with the momentum of organizational change. Readers are left to grapple with how UST's leaders should take the program forward.
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