The past years have seen significant focus on technological development and capabilities to optimize organisational efficiency, such as Robotics Process Automation (RPA) and other Artificial Intelligent (AI) solutions. Indeed, these solutions help to fill in the gaps within Enterprise Resource Planning (ERP) to ensure more efficient processes with better data connectivity and overall improved business performance.
However, it is also important to shine a light on the workforce factor and the significant growth and demand in talent capabilities from various industries within the Global Business Services (GBS) and Finance Shared Services (FSS). Let’s deep dive into the core skills individuals and organisations should focus on and upskill to stay competitive in the GBS and FSS arena.
All technological skills, both advanced IT skills and basic digital skills, are one of the most in-demand skills throughout all industries. The advancement of technology-driven solutions and Finance digital transformations within GBS and FSS grows in parallel with the need to tech savvy professionals. The development and management of advanced technologies require the support and management from individuals who can fully understand how the technologies work and can invent, develop and adapt them as a result of the use of automation.
Problem solving and critical thinking skills
No doubt, problem-solving and critical thinking skills serves as an important talent capability within an organisation. From daily operations to resolve business-as-usual issues to the strategic roles of identifying and closing any operational process gaps towards process improvement of a GBS. This ensures overall efficiency and effectiveness of business processes.
Coaching and mentoring
Coaching and mentoring is a skill which is especially crucial in leadership roles, where several individuals in your reporting line will seek your guidance and direction to enhance their own skills, knowledge or work performance. Mentoring emphasizes on active listening, providing guidance and establishing connections, whereas coaching emphasizes on listening to a person, identifying their needs and helping them develop an action plan.
Leadership is the ability to influence and guide others. Good leadership is shown through example and support towards a shared goal. A good leader in GBS and FSS is one who knows how to manage their team towards performance excellence but also to understand their teams’ individual strengths and weaknesses for better expectation setting, assignment of roles and collaboration initiatives. Good leadership drives the overall organisational goal of increased efficiency, productivity and cashflow.
Depending on the nature of the business, a business would not exist without customers who demand and require their product or service. Thus, customer/supplier management is an important skill in GBS and FSS, especially when dealing with purchase orders, goods receipt, order payments, sharing invoices and other front facing roles. An employee must be able to build and maintain a good relationship with potential and existing customers by managing customer/supplier needs and expectations, within the guidelines of an organisation to ensure a long standing and strong business relationship.
A collaborative team comes together to brainstorm, problem-solve, and delegate tasks more effectively and creatively than working alone. With different perspectives, experiences and skills within a group, collaborative input from various team members in GBS and FSS is beneficial to enable higher quality of output and overall sense of ownership.
Communication and Engagement
Effective communication and engagement is important for throughout all aspects of an organisation, including GBS and FSS. For example, effective communication from management helps the entire company understand corporate goals, motivates employees and enables a positive working culture. On the other hand, effective communication in sales creates value to the business model and pulls in demand for increased revenue. Within a team, transparency of skills, expectations and work progress builds a stronger, high trust and high accountability relationship among team members.
Social and Emotional skills
Lastly, social and emotional skills are key to maintain a positive and motivated group of workers with good working synergy. This applies within the office team setting, as well as, business-customer relationships. Within GBS and FSS, employees from different workstreams and levels of management may be involved in the end-to-end process flow to achieve an output. Therefore, it is important for talents to be able have the social and emotional skill towards others they work with.
Organisations need to focus on refining the process, technology, and people pillars to ensure long terms organizational success and endurance. As the ‘people’ aspect forms one of the key foundations of any successful organization, a strong workforce is vital for driving results and achieving success. It is important for professionals to proactively engage in upskilling and self-development activities to remain competitive with their high demand skills and capabilities.