OREANDA-NEWS. July 07, 2011. PwC Russia conducted two surveys on the role of talent in developing an innovation-driven economy in Russia. Dennis Nally, Chairman of PwC International, presented the survey results at the SPIEF as part of a session on “Talent for the New Russia: the Skolkovo Mindset – Building Russia’s Creative Capital”, reported the press-centre of PwC.

In conducting the first survey, PwC Russia interviewed top executives from major international and Russian companies to get a better idea of how important talent management and innovation are to them. The survey identified the following priorities, goals and concerns of these top managers:

The managers surveyed acknowledged that their talent management, development and retention strategies were in need of revision. They named talent management as one of two major priorities, along with improving their companies’ business performance, over the next three years.

Eighty-seven percent of the managers said that innovation would have a significant impact on their companies’ earnings.

At the same time, however, Russian managers were sceptical about the ability of Russia’s scientific community or corporate research centres to meet their need for innovative ideas.

Both Western and Russian managers agreed that there is still much room for improvement in how they handle talent management and innovation. The new generation coming up is very tech-savvy, and technology is the foundation of modern business. Moreover, young professionals want to work in a creative environment on mutually beneficial terms, leaving hierarchical structures in the past. 

For the second survey, PwC Russia then tested these outcomes using the innovative “crowd-sourcing” method, including initiating online discussions on the role of talent in innovation. This spurred a wide-ranging dialogue on various websites and online communities, including some focused on innovation, as well as blogs and popular social networking sites such as Facebook and Vkontakte. The survey’s target audience consisted mainly of students, young entrepreneurs, and professionals from large businesses and educational institutions that are involved in innovation.

The second survey revealed a wide range of views among the online community, including:

Russia suffered from a “brain drain” starting in the early 1990s. But, the most proactive businessmen are now returning to Russia, as they see rapid growth opportunities and high earning potential here. They realise that it’s better to “get in on time, rather than have to catch up later”. 

Russia needs a stronger entrepreneurial culture to foster innovation and talent: “We should take pride in our innovators, both astronauts and hockey players.”

There are two main ways to end the “brain drain”. One is to build up fundamental science and the other is to encourage more start-ups.

Talented people need promotion – they need “producers”. What is also needed is a strategic plan to revitalise a community of engineers and inventors. 

The educational system needs to be reformed:  more resources should be put into applied research and building links with business and manufacturing. Simultaneously, more research grants should be made available and links with international educational institutions should be expanded further.

Speaking on these views and the challenges they represent, Dennis Nally remarked: “Skolkovo not only may be, but definitely will be, a catalyst for Russia’s innovation-driven development as well as a magnet for attracting talent.”