Deepstash brings you key ideas from the most inspiring articles like this one:
Read more efficiently
Save what inspires you
Save all ideas
By 2030, up to 30 to 40 percent of all workers in developed countries may need to move into new occupations or upgrade their skill sets. Skilled workers in short supply will become even scarcer. Any company that doesn't join the early adopters and doesn't address its underlying talent needs may fall short of reaching its goals.
The pace and scale that technology disrupts is a social, political and business challenge.
Employers are best placed to make a positive societal impact, for example, by upgrading the abilities of their employees and equipping them with new skills. Employers will also reap the greatest benefit if they can successfully transform the workforce in this way.
Talent is the largest barrier to the successful implementation of new strategies.
Many leading businesses realize that it is quicker and more financially prudent to look internally and develop the talent they already have. Yet only a third of global executives report that their organizations have launched any new reskilling programs.
Successful and continuous transformation of the workforce involves 3 broad phases that at first might seem common.
The company needs to asses if they are capturing the full potential of new technologies to generate new revenues and not just trying to cut costs.
Many small individual initiatives within organizations don't see the urgency and end up falling behind, never realizing the magnitude of the opportunity in front of them.
Companies should gain a clear understanding of the way each employee and team do their present work and involve them in redesigning their roles and ways of working. It will spark better ideas and ensure pain points will get addressed early on. It will also create stronger skill matches and smoother transitions.
When organizations introduce new work, outside-in analytics and expert input can also help to find answers.
Digital strategies are creating entirely new, mission-critical tasks. The redesigning of work is far more than changing existing roles. They need to identify the knowledge, skills, attitudes, and experience required, then look inside to find the best-fit talent.
Sometimes, employees may be identified that can already fit the requirements, and other times training and support should be provided to build new capabilities and skills.
Workplace transition demands enormous sensitivity. Some employees may fall short of acquiring the skills needed to make the transition to new areas of work, while others may prefer to seek new employment.
Many companies are forming partnerships with new, tech-savvy outplacement firms to help prepare employees for fresh opportunities by encouraging them to acquire new skills and encouraging growth mind-sets.
Companies will need to measure the return on their investment in employee skilling.
For instance, the cost of giving employees new skills compared to the cost they would have spent on hiring. The expense should include the opportunity cost of waiting to hire.
SIMILAR ARTICLES & IDEAS:
According to a decade long research, the health of an organization is based on alignment with a robust strategy, deep-rooted culture, and a clarity of vision.
The health of an organization ca...
Extensive Data studies have found a link between the health of an organization and its performance.
Robust health is crucial to an organization's long term success.
Companies aligned with one of these four organizational recipes are more likely to be healthy and to deliver strong, sustained performance than those following random management styles:
“The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is gu..."
Millennials expect to be developed via opportunities, mentoring, and stretch assignments. However that is hard to come by in top-heavy companies.
Most millennials think their roles provide little development while most companies report they have excellent or adequate programs for Millennials.
Find out if your performance evaluation is according to what you understand. Identify your goals and key performance indicators with your manager, and discuss accordingly.
Ask for feedback, learn from it and adjust your performance (or behavior) according to the areas of improvement that you get to know from others.
Example: After giving a presentation, talk about what went well and ask if there is something that you could have done better.
Keeping a journal with a record of your learnings and feedback (areas of improvement) can keep us on the right path, and speed up our progress, and learning too.
Listing out 5 or 10 areas of improvement and tracking the progress in weekly or monthly reviews is a great way to develop your career.