Talent shortages, skills gaps, and new technologies pose challenges to any organization, but an effective skills management strategy offers built-in solutions to navigating them.
In this article, we’ll offer three tips on how you can use skills management to set yourself and your organization up for success, as you develop a workforce that is agile, adaptable, continuously improving – and ready for the future.
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Anticipate future trends
“One-third of workers say their company won’t be economically viable in 10 years’ time if it continues on its current course,”
reads PwC’s 2023 “Global Workforce Hopes and Fears Survey.”
Here, PwC says, the onus is on employers – not employees – “to draw a direct line from the capabilities they need to grow and innovate to the specific business outcomes they want to achieve.” Doing so hinges on staying informed of emerging technologies and industry trends that will enable you to anticipate future skill requirements and close potential skills gaps before they occur.
For example, understanding that the use of AI and automation is increasing can help you place a focus on anticipating tasks and roles that are likely to become automated, then identify the complementary skills that will be in demand. In this case, those would be skills that cannot be easily replicated by machines, such as analytical thinking and creativity, which the World Economic Forum’s “The Future of Jobs Report 2023” coincidentally names “the most important skills for workers in 2023.”
So, how does skills management fit into the picture? By serving as the bridge between an organization’s strategic objectives and the capabilities of its workforce – especially in terms of skills management software, which you can use to develop and maintain an easy-to-understand overview of the skills present in your organization, as well as those you need.
Focus on agile workforce development
Take steps to build a workforce that is adaptable and can quickly switch roles or tasks as needed. This flexibility ensures that employees can respond to changing business needs, and allows for quicker and easier upskilling or reskilling, should the need arise.
To achieve an agile workforce, provide targeted training programs that align with both individual career goals and the organization’s strategic needs, utilizing a mix of in-house training, external courses, and experiential learning opportunities – something that effective skills management not only encourages, but requires.
By investing in the growth and development of your employees, you’re not only equipping them with valuable skills, but also fostering loyalty and reducing the need for extensive external hiring.
It’s also a smart move operationally, with research from PwC’s survey revealing that “53% of employees say that their job requires specialist training, up from 49% last year.” Further pushing this narrative is the World Economic Forum, which states that
“Six in 10 workers will require training before 2027, but only half of workers are seen to have access to adequate training opportunities today.”
Take steps to develop a culture of continuous improvement
“Constant learning – driven by both workers and organizations – will be central to the future of work, extending far beyond the traditional definition of learning and development,” reads a recent KornFerry report.
By developing and implementing cultures of continuous learning, you can take steps toward taking some of the pressure of training off your leaders, and give employees the opportunity to reskill, upskill, or otherwise develop themselves.
To do so, encourage employees to view learning as an ongoing process rather than a one-time event. Provide resources, such as online courses, workshops, webinars, and mentorship programs, to help them develop new skills and stay updated with industry trends. Encouraging employees to take ownership of their own development will not only enhance their individual skill sets but also contribute to the overall preparedness of your workforce.
Furthermore, coupled with targeted training plans, a workforce that is continuously learning and developing can have a drastically positive effect on navigating a global talent shortage that Korn Ferry believes “could result in about $8.5 trillion in unrealized annual revenues” by 2023.
Ready to get future-proof with AG5?
AG5 places skills management at the heart of your organization, providing you with the real-time data and analytics you need to effectively and efficiently track skills, develop training plans, and manage certifications and qualifications that your employees need to develop a future-proof workforce.
Want to learn more? Schedule a free, live, 15-minute demo today to see how AG5’s skills management software holds the potential to transform the way your business operates.
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Sources
PwC’s Global Workforce Hopes and Fears Survey 2023. PwC.
The Future of Jobs Report 2023. World Economic Forum.
The $8.5 Trillion Talent Shortage. Korn Ferry.
