The Forever Changing Workforce: Skilling
The world is constantly throwing curveballs at businesses. Every week there is a new technology, app, trend or method of working that puts the prior idea in the dirt. Your company should be prepared for these changes. Here is part one of three (1/3) of our skilling, reskilling, and upskilling blog series.
It is no surprise that Covid-19 has impacted the workforce in ways no one could imagine. Usually, companies would recognize changes coming into their industry and recruit new employees to combat them if different skills were needed to those that were accessible to the company. However, this is no longer possible in many industries. Progress is happening so quickly that this approach would mean rehiring too frequently, which is not realistic and productive.
So, what can companies do to stay ahead of this rapidly changing world? The answer is skilling, reskilling, and upskilling. Giving your employees the flexibility to adapt to new roles rather than rehiring.
Skill shortages are starting to become one of the largest concerns for companies and employers in all industries. A prediction from experienced analyst Korn Ferry suggests that by 2030 over 80 million jobs could be unfilled due to unqualified candidates. This could cause businesses to lose revenue up to 9 trillion dollars. According to PwC and Mercer’s latest talent trends, almost 74% of CEO’s around the globe are worried about their employees’ key skills.
So, how do you fight the overwhelming statistics that all companies are facing? The answer is to take existing members of your team and skill them up to perfection with the latest trends, technologies and ideologies. This way companies are not relying on the need to constantly upgrade their talent pool.. This method of hiring and working requires employers to really change the way they hire initial employees. Now, employers should be looking for candidates who have the potential to grow and adapt in any direction you send them. Top, high end talent is becoming a rare artifact, one way to get similar results is to hire with room to adapt and change, it may be the only practical solution left.
Next week we will be discussing the next step in the process, reskilling. Be sure to look out for the whole series!
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