“Last week I spoke with Karen Cariss, CEO of PageUp People, after she attended the recent Human Capital Summit in Singapore” writes Sylvia Vorhauser-Smith. (Choosen excerpts by JMM to follow)
How similar or different are the human capital issues business is discussing in Asia Pacific’s high growth markets to those in the U.S., Europe or Australia? It turns out the issues are quite similar, but the context in which the game is played is different, so some subtle and some very notable differences in their manifestation arise.
The landscape is VUCA
KC: The buzz-phrase at the conference was VUCA – if I heard it once, I heard it a dozen times.
SVS: Pardon my ignorance, but I haven’t heard this acronym in the HC arena.
KC: It was new to me too, but quickly resolved by Wikipedia. “VUCA – either the Court of Appeal of Vanuatu, or a term drawn from the military in the ‘90s as an abbreviation for volatile, uncertain, complex, ambiguous.”
SVS: I’m placing my bets on the latter. It sounds like a similar concept to Peter Vaill’s permanent white water. So VUCA describes the rapidly changing and complicated world business operates in today. It’s about the pace and scale of change then?
KC: Yes, change is constant and accelerating in Asia. That’s no different to what we hear at every forum around the world. But it has a different connotation here. Competition in business is fierce globally, but in Asia that competition is focused on speed, growth and sustainability whereas what we see in traditional markets is more defensive – customer retention, revenue protection, and downsizing….