Imagine having complete confidence that your organization will possess the skills required in the future. Leading organizations are future-proofing themselves by taking a strategic view of future skills needs and market supply/demand and adopting a practical approach to talent and reward practices that will enable increased flexibility and resiliency.
It became clear during the pandemic that skills fuel business transformation and organizational resilience. Companies that took inventory of their workforce or talent ecosystem have been able to find talent quickly, move talent to where it’s needed most and make critical talent decisions to keep the business running during uncertain times. As companies look to bounce forward and stave off future shocks, they are building more flexibility into their business models. One in three global organizations are accelerating upskilling or reskilling programs in response to COVID-19. In doing so, they recognize the value of their people — the vast potential of each individual to leverage their existing skills to add value beyond their current role and learn new skills in response to changing needs.
True transformation requires companies to deconstruct jobs into units of skill and update talent models so that skills are the basis for defining work, deploying talent, managing careers and valuing employees. Success will depend on companies showing that skills are the dominant language of the organization (not jobs or functions) and creating a culture that supports learning. Our experts share how organizations can build and accelerate their journey on this skills-led agenda in this Mercer point of view paper.
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Companies that unlock reskilling at speed and scale will transform at a pace that leaves their competitors behind