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Talent Risk, Company Agility, and Competitive Advantage in Asian Automotive Industry

Several Asian countries today face talent risk and talent shortage especially in engineering- and technology-related fields within high-tech industries such as automotive component manufacturing and automobile industry. This situation can lead to the loss of competitiveness and business sustainability. Limited automobile companies have strategies to cope with talent risk, which involves increasing workforce agility and enables the companies to quickly adapt themselves to disruptive changes. Those companies can reduce the impact from negative consequence of people risk. In this context, this study investigated the relationships between talent risk, competitive advantage, and agility in the Asian automotive industry. The data collection was collected from 12 automobile companies in Thailand, Malaysia, and Indonesia. The analysis was delivered in two phases; a quantitative step was the data collected were subjected to confirmatory factor analysis and simple path analysis; and a qualitative step as the results were confirmed through in-depth interviews with executives and managers. The study revealed that talent risk has a positive relationship with competitive advantage and agility mediates the relationship between talent risk and competitive advantage. Our findings imply that the Asian automotive industry should focus on building an agile workforce to reduce the impact of talent risk on competitiveness.