Human Capital

over the next five years, the skills needed to support these attributes will be very different from what they were even three years ago.

Going forward, there are numerous factors that distributors of all types must take into account when developing their human capital strength, including competing for individuals with high-value skills and capabilities.  Wholesaler-distributors should assess and prioritize each of these issues in the context of driving business performance.

Technologies such as e-commerce, e-mail, and electronic data interchange (EDI) play an increasingly important role in facilitating and automating communication and transactions.  Yet for the most part distribution remains a relationship driven industry.  Face-to-face transactions and interactions continue to play an important and differentiating role in this industry.  Employers, customers, and suppliers place a high value on trust, personal connections, and ongoing relationships.  However, over the next five years, the skills needed to support these attributes will be very different from what they were even three years ago.

ACTION POINT: The ability to think analytically, deal with more ambiguity and uncertainty, embrace complexity, and communicate value and service (in addition to price and product) will be essential for both customer-facing and internal personnel.