Acres Plus Professional Services’ Post

REFLECTIONS ON DAVOS 2024 THE TALENT CHALLENGE: A SKILLS BASED APPROACH So much water everywhere but not enough water to drink? This quote reminds me of the globally recognised, talent shortage challenge. Extracts below, from a January 15, 2024 World Economic Forum report highlight the current situation *****‘In Europe, around one in 30 jobs currently remain unfilled - or 2.9% - which is the highest rate ever recorded, according to the World Economic Forum's Putting Skills First report. In the US, meanwhile, there are over 3 million more job openings than there are unemployed workers - at 9.6 million and 6.4 million respectively. Talent shortages and tight labour markets impact economic growth. 6 in 10 businesses say skills gaps in the local labour market are impeding their business transformation. More than half (58%) of workers believe the skills their job requires will change significantly in the next five years’ ******* Workforce transformation via a skills based approach as a potential solution, was discussed at the recently concluded World Economic Forum Davos 2024 With this in mind, how can organisations leverage a skills based approach to address talent scarcity and deliver sustainable business growth well into the future? The following are critical enablers: - Thoughtful strategic leadership - Identifying and attracting skills acquired rather than focusing solely on certifications and experience (a purer version of skills based hiring) - Reskilling and upskilling existing talent for the future - Leveraging metrics and AI to monitor progress and alignment with business goals BUT wait a minute! Understanding the skills gaps within yourself and your organisation vs the future of work and its operating environment come first! How are you preparing yourself and your workforce for the future, using a skills-first approach? Professional Coaching could support immensely with this. Have a look at the 6 critical success in the article below and reach out if you will like to discuss further. #talent #skillsbasedhiring #skills #skillsfirst #skillsofthefuture #talentchallenge #wef #worldeconomicforum #acresplus #acresplusprofessionalservices #professionalcoaching #futureofwork #businessgrowthstrategy #coaching #enablinggrowth #workforcetransformation #transformation Cynthia Kikelomo Ajeigbe https://lnkd.in/dbFn2E_k

Skills first: 6 success factors for recruiting and developing talent

Skills first: 6 success factors for recruiting and developing talent

weforum.org

To view or add a comment, sign in

Explore topics