In this world of rapid change, there is a greater need for fluidity, responsiveness and agility as organizations become quicker to innovate. It’s crucial that leaders are able to strengthen the connection between the skills businesses need and what employees want from their careers.
However, it’s not as simple as it once was. Long gone are the days when people climbed a professional ladder, understanding clearly what each level meant in terms of skills, responsibilities and what was needed to move up. We’re in a world where both organizations and people want something very different.
With Fosway, Cornerstone delved into how organizations are leveraging talent intelligence to address skill shortages, empower career paths, drive motivation and build skills to retain and grow all their people’s talent.
Skills development drives business agility
Why is this so important? Because lack of flexibility and agility places strain on HR teams as its impact on the workforce is huge. According to recent research conducted by Fosway, 82% of HR professionals see business agility as one of their most significant business challenges.
Especially when we consider the backdrop against which businesses are working — from changing demographics to the fifth Industrial revolution, climate change, an energy crisis and economic downturn. There has never been a greater need for agility and flexibility. Crucially, it's not just an organization’s structure or policies that need to change here. Just as an organization continuously transforms, so too must its people.
So, how do organizations handle all of these spinning plates?
Skills intelligence is paramount
The answer is in having an HR strategy that is underpinned by skills intelligence. It’s always been important to understand the skills you’re hiring for, but organizations must also look to the skills within, which may not always be obvious. A person may not be using a certain set of skills in their current role, but they are there, dormant and could be essential in another role. And this person may also want to use this skillset but hasn’t yet had the opportunity.
Within every organization, there is huge potential to upskill and reskill, and drawing from internal talent offers a way to navigate uncertainty. How agile a company can come down, in large part, to its skills management.
Organizational leaders and managers can use technology to understand which skills their workers are eager to grow and how that development can propel workers into the next phase of their careers. AI has the ability to unearth this intelligence and, importantly, do this at scale. With this, organizations can grow, develop, change and keep pace with the market that they serve, while their people are inspired by career opportunities, feel recognized and thrive. In this way, AI is instrumental in managing the connection of people, their aspirations, available work, mentors and learning that's simply not possible without advanced technology.
How to leverage AI to drive skill development
It can feel overwhelming to decipher where to start in implementing an AI-driven skills strategy. Together, Cornerstone and Fosway have partnered to take a look at what this journey looks like and answer some major questions. The whitepaper offers key insights, including:
- How to begin your AI-driven skills journey by focusing on the future, understanding what new skilling is needed, engaging in smart skill building
- The process of aligning your talent and skills intelligence to the key priorities of your organization, making it ‘the’ enabler
- Why managers are absolutely pivotal, and how to educate them about the opportunities that come with being an agile, fluid organization
- The exploration of new ways of working, such as projects and gigs, welcoming in other potentially crucial job skills
- How to leverage AI to strengthen talent programs, skills training programs and proactively drive inclusion
- How to track for bias amid a greater dependency on AI and automation, monitoring and empowering diversity
- The importance of providing targeted content to grow skills, underpinned by talent intelligence and scalable learning
- Fully embracing ‘intelligence’ to keep, as well as energize, high-performing talent
Today’s workers want visibility of new opportunities and want to know what skills and experience are required to succeed in those new roles. The ladder may have gone, but careers and organizational growth can still be managed in a structured and robust way that allows for many moving parts.
To learn more about how to use AI to drive a stronger connection between employees and business, download the Fosway report here. You can also learn more here.
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Core HR function: Anticipating skills requirements
The human resources discipline encompasses a wide variety of roles and responsibilities, all centered around the employee. These tasks span everything from recruitment, payroll and administration to strategic workforce planning and training. The number one purpose of HR, however, is to manage skills. This means ensuring that the company possesses the knowledge and expertise it needs not only to manage day-to-day business and contribute to the company’s success, but also to anticipate future talent requirements. This is particularly true in times of talent shortage. It is up to companies to equip themselves with the concepts and solutions needed to meet these challenges.