50% of employees will need to acquire new skills in the near future to stay competitive. This is no small challenge, especially when you consider that 48% of businesses currently identify a skills and talent deficit as their primary concern over the next three years. What separates the top-performing companies from the rest is their approach to this skills gap. While many companies may delay or downplay the importance of skills development, the world's leading organizations are actively leveraging this challenge to innovate and empower their workforce, ensuring their success in a transforming landscape. It's not just the traditionally low-skilled jobs that are facing automation risks; even sectors like finance and healthcare are feeling the pressure. This underscores the critical importance of skills transformation across all levels and industries. 🌟 Here’s why every worker needs to prioritize continuous skill development: Stay Competitive: The landscape of industries is shifting, and staying updated with relevant skills is the only way to keep up. Career Growth: Skills transformation opens up new avenues for advancement and career development. Strategies to Make Your Workforce Future-ready: Promote Upskilling and Reskilling: Equip your employees with the tools to master new skills and adapt to new roles. Cultivate a Culture of Collaboration: Encourage teamwork and knowledge sharing to enhance learning. Implement Lifelong Learning: Make learning an ongoing process at every stage of an employee’s career. Empower Employees: Let employees take the lead in their learning journeys to boost engagement and retention. Provide Continuous Support: Regular guidance and support are crucial in helping employees navigate their skill development. Develop a Skills Tree: Visualize and plan the skills progression needed for various roles within your organization. The future is unpredictable, but one thing is clear: the skills transformation journey is essential for both individual and organizational success. #SkillsDevelopment #FutureOfWork #CareerGrowth #TalentManagement
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The paradigm of knowledge work is shifting to a skills-centric model. Individuals with specialized abilities are in high demand. It's crucial for professionals to continually upgrade their skill sets in this dynamic environment. Companies and their leaders are on the lookout for versatile candidates who can adapt to evolving job requirements and modern workflow. Lifelong learning and upskilling are key to career progression and job satisfaction, according to the latest research findings. #FutureOfWork #Talent #Skills #Employment #trends
Future of Work: Skills-Driven Employment
blog.geoactivegroup.com
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Aspiring Strategy & Management Consultant | LinkedIn Trainer | Champion of SPBC'23 | 1st Runner up of HRV'24 | Public Speaking, Leadership & Event
𝐈𝐧 2025, 𝐰𝐨𝐫𝐤𝐢𝐧𝐠-𝐰𝐢𝐭𝐡-𝐩𝐞𝐨𝐩𝐥𝐞 𝐬𝐤𝐢𝐥𝐥𝐬 𝐧𝐨 𝐥𝐨𝐧𝐠𝐞𝐫 𝐦𝐚𝐭𝐭𝐞𝐫?! Hold on, before you read on, take a look at the picture below. What do you see? This study was conducted by the World Economic Forum's Future of Jobs Report in 2020. It highlights that: 🔷50% of all employees will need reskilling by 2025, as the adoption of technology increases. 🔷Critical thinking and problem-solving are at the top of the skills list (both in frequency and ranking). 🔷Newly emerging are skills in self-management such as active learning, resilience, stress tolerance, and flexibility. Furthermore, there's something that caught my attention right from the start: 𝐈𝐬 𝐖𝐎𝐑𝐊𝐈𝐍𝐆 𝐖𝐈𝐓𝐇 𝐏𝐄𝐎𝐏𝐋𝐄 𝐠𝐫𝐚𝐝𝐮𝐚𝐥𝐥𝐲 𝐛𝐞𝐜𝐨𝐦𝐢𝐧𝐠 𝐋𝐄𝐒𝐒 𝐈𝐌𝐏𝐎𝐑𝐓𝐀𝐍𝐓? (since it only appears once, and at a rather low ranking) Doesn't this contradict the fact that humans are social beings, and all human activities, especially in the workplace, seem to revolve around this? The issue may stem from Technological Integration and Automation, as well as the trend towards Remote Work and Digital Communication, especially after the COVID-19 pandemic. 🔶While working-with-people skills only occupy one position in the top 10, I believe that if you can master these skills, it will make you a standout candidate and be a shortcut to advancing more quickly up the career ladder. Don't neglect it! 🔶Start building your reskilling strategy TODAY, focusing on problem-solving, analysis, and critical thinking skills, while concurrently developing self-management skills such as active learning, stress tolerance, and flexibility. Then, showcase these skills in your resume and LinkedIn profile to make it more competitive. What do you think about this change? Feel free to share your thoughts below! Source: World Economic Forum's Future of Jobs Report 2020 #skills #PersonalDevelopment #LearningStrategy
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In a world where nearly one-quarter of jobs are projected to change by 2027, the ability for workers to transition into new roles is rapidly becoming essential for career longevity and economic productivity. According to the latest report from the WEF, "Unlocking Opportunity: A Global Framework for Enabling Transitions to the Jobs of Tomorrow," there are clear action points to facilitate these transitions: Reskilling and Upskilling - Continuous learning is vital as 44% of the skills required for any given job are expected to change within five years. Improving Employee-Employer Matching - As industries evolve, employers need to leverage workforce tech solutions to enhance job-matching efficiency, creating access to broader talent pools. Robust Worker Safety Nets - These nets ensure individuals can navigate job transitions with security, providing necessary financial and workplace support. Multistakeholder Collaboration - By breaking down barriers across industries, we can create environments conducive to successful job transitions and equitable work opportunities. What this means for you: For professionals, adapting to a non-linear career path and embracing lifelong learning isn't just advisable, it's crucial. For organizations, investing in employee development isn't merely an expense but a strategic move towards a resilient workforce. 💬 What strategies is your organization implementing to support job transitions, and how are you preparing for the changes in skill requirements? #JobTransitions #FutureOfWork #Reskilling #Upskilling #Collaboration
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Our recent poll reveals... 🥁 Analytical and creative thinking are the top skills required for supporting business activities in the future! And interestingly, our results echo the findings of the latest WEF report, Future of Jobs Survey 2023. Learning should be a priority for improved career development, retention, and growth. A theme our CEO and founder explores in his last featured article “The retention struggle: How to do more with learning and development” shared by FE News 👇🏽 https://hubs.li/Q02nf8M00 #talentacquisition #careerdevelopment #talentretention
The retention struggle: How to do more with learning and development | FE News
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#Skills and labour shortages are two of the most pressing concerns facing societies and economies today. A “skills-first” approach to hiring and developing people has the potential to transform the way that labour markets operate. A skills-first approach focuses on whether a person has the right skills and competencies for a particular role, rather than having the right degree, job history or previous job titles. It means that businesses get the skills they actually need for a particular job, but more than that, it democratizes access to good jobs and learning opportunities Here's possible impacts in terms of business: - Adaptability to #Change: In rapidly evolving industries and markets, specific job roles and requirements can change quickly. A skills-based approach allows companies to focus on the skills that are essential for success, enabling them to adapt more effectively to changes.. - Efficient #TalentAcquisition: When companies prioritize skills over specific degrees or job titles, they open up the pool of potential candidates. This can lead to a more diverse and qualified workforce, making it easier to find individuals with the right skills. - Lifelong #LearningCulture: A skills-based approach encourages a culture of #continuouslearning and #development. Employees are more likely to invest in acquiring new skills if they know that their advancement and success within the company are tied to skill acquisition. - Faster #Onboarding and #Upskilling: Focusing on skills streamlines the onboarding process and reduces the time it takes for new employees to become productive. Additionally, upskilling current employees becomes more straightforward when the emphasis is on acquiring specific skills. - Enhanced #Performance and #Productivity: Employees who possess the necessary skills to excel in their roles are likely to be more productive and perform better. - Improved #EmployeeSatisfaction and #Retention: Employees are more likely to stay with a company that invests in their professional development and recognizes their skills. - Better Alignment with #BusinessGoals: A skills-based approach ensures that the skills of the workforce align with the strategic goals of the company. This alignment is crucial for achieving success in the long term. - Technology and Industry Relevance: As industries evolve and new technologies emerge, companies need employees with up-to-date skills. A skills-based approach helps companies stay relevant in a rapidly changing business landscape. In summary, adopting a skills-based approach allows companies to be more #agile, attract diverse #talent, foster a culture of continuous learning, and align their workforce with the skills needed for success in a dynamic business environment. And do you believe in the potential of this approach? Are you already implementing skills based approach in your organization? Source: "Putting Skills First: A Framework for Action" - World Economic Forum
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"...Five years from now, 44% of worker’s skills will be disrupted. "The World Economic Forum’s 2023 Jobs Report found that 44% of worker’s skills will be disrupted in five years, and 6 in 10 workers will need training in the next four years. "The same report names technology and digitization as the biggest drivers of business transformation in the years ahead — and skill gaps as one of the primary barriers to that transformation. "The goals of L&D and talent leaders must expand to match the pace of change. "The goal of career mobility should be to build the skills needed for the future of work and to fill internal talent pipelines for in-demand roles..." https://lnkd.in/gXUHUuU3 #businesstransformation #talentleaders #technology #digitization #careermobility #internaltalent #cultureofgrowth #internalmobility #talentretention #employeedevelopment #careerpathways #jobreplacement #skillgap #talentpipe #talent #upskilling #reskilling #metrics #promotionrates #jobsreport #futureofwork #careermobility
The Metrics That Matter for Skilling Investments — and the Ones That Don’t
guild.com
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Professional Postgraduate Diploma in Human Resources Management at American University in Cairo | MBA at American University in Cairo |
🔑 Unlocking Career Potential: Why Skills Matter More Than Ever in 2024 In the ever-evolving job landscape of 2024, a skills-first approach is revolutionizing how organizations view talent. Traditional credentials like degrees are taking a backseat as companies focus on the actual skills and competencies that employees bring to the table. This shift is not only reshaping recruitment strategies but also redefining career progression and development. - Why Skills Matter: 1. Inclusive Opportunities: By prioritizing skills over degrees, businesses open their doors to a more diverse pool of candidates. This approach recognizes the potential in individuals from varied educational backgrounds and life experiences, promoting inclusivity and equity in the workplace. 2. Continuous Learning: The pace of technological advancement demands a workforce that is adaptable and continually learning. A skills-first mindset encourages employees to engage in lifelong learning and professional development, keeping their abilities relevant and aligned with the industry's needs. 3. Aligning with Business Needs: Companies can better match employees' skills with organizational requirements, driving efficiency and innovation. This alignment fosters a culture of growth, where employees are positioned in roles where they can excel and contribute meaningfully. - How to Embrace the Skills-First Approach: 1. Focus on Competency-Based Hiring: Recruit based on the specific skills and capabilities needed for the role rather than just educational qualifications. 2. Promote Upskilling and Reskilling: Invest in training programs that help employees acquire new skills and advance their careers. 3. Encourage Internal Mobility: Create pathways for employees to move across different roles and departments, leveraging their skills in various contexts. - By adopting a skills-first approach, organizations can harness the full potential of their workforce and stay competitive in an increasingly dynamic market. It's time to look beyond the resume and see the true capabilities that each individual brings. Feel free to contact me on Ahmed Khaled Abd El-Monem #SkillsFirst #CareerDevelopment #InclusiveHiring #Upskilling #TalentManagement #FutureOfWork Source: Harvard Business School (HBS) Working Knowledge: 10 Trends to Watch in 2024 https://lnkd.in/ddptgvmw Beekeeper: Navigating the Future of Frontline Work: 11 HR Trends for 2024
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President & CEO at Muzzy Lane, using AI-enhanced roleplay simulations to scale skills-based learning and assessment. SkillBuild Critical Thinking now available!
Lots of good data in this "State of the Workforce Skills Gap" report from Springboard. Top 3 skills trends: skills gap likely to get worse before it gets better, younger employees don't think they need upskilling (although they are open to it), and a severe lack of durable skills (headlined by critical thinking) is limiting corporate growth Forbes Rachel Wells World Economic Forum TalentLMS Vyond LinkedIn #skillsgap #skills #durableskills #criticalthinking #microcredentials https://lnkd.in/epPC73WH
3 Skills Trends Leaders Should Prepare For In 2024
forbes.com
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According to a study done by McKinsey, 375 million workers globally will need significant new skills by 2030. (McKinsey, 2023) Do you know what skills your organisation needs for the future and what skills your current workforce has? Understanding these two crucial elements will enable you to: 1. Determine what skill gaps can be filled by retraining your staff. 2. Understand the roles and skills that you need to recruit. 3. Create a flexible workforce so that as your business needs change, you can move employees to new roles where their skills are needed and their strengths will shine. Using service design techniques, we co-design your people experience, ensuring that people are enabled and supported throughout the journey. From the recruitment stage to career development and changes, we look at people's skills, strengths and passions as well as the requirements of your business to guide them to a role that is the best fit for them and your business, while enabling them with the necessary knowledge, coaching and tools for them to shine. By taking the time to understand your organisation and your people, we are able to define and design a future-fit organisational design and enable accurate job profiles and skills requirements for each role. Through digital skills assessments and our Strength's Revolution Programme we can assess your current team and potential candidates ensuring you have happy people with the right skills in the right role. Are you ready to build a resilient business with a happy, future-fit team? Connect with us today: https://lnkd.in/eFAuVHb8 #peoplefirst #futurefocused #transformation
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The skills gap is costing the U.S. economy a whopping $1.3 trillion a year. With jobs evolving at an unprecedented pace, it’s time to bridge this #skillsgap. See what employers can do to source candidates with in-demand skills and overcome the challenges to build a more resilient and competitive workforce. https://hubs.li/Q02q7CKZ0
Navigating the Skills Gap: Strategies for Success - Video Assessment For Skill Development & Feedback | GoReact
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