Challenges to skills-based talent strategies
In a very tight labor market, in which skills demand and supply hardly match,?embracing skills-based talent strategies (and software) can revolutionize almost any HR process, from hiring and development to performance management and retention.?
In fact, organizations that realign HR processes to match skill needs can boost employee engagement by 50 percent, lower training and development program costs by 50 percent, and raise productivity by 40 percent (McKinsey & Co).?
This is why, in this edition of the People Leaders newsletter, we've given our full attention to skills-based talent strategies, their implementation, and possible barriers. We're also exploring the importance of skills management software and how to choose a solution that fulfills the needs of your organization. Enjoy the reading! ??
?? Picked From Our Library
Challenges to Implementing Skills-Based Talent Strategies
With skills-based talent strategies, HR departments can take their organizations to the next level and align the entire employee journey — from hiring to retention — with business objectives. And while the importance of skills-based practices cannot be overstated, their implementations raise a series of challenges.?
Skills Management Software: The Future of HR and Talent Development
With the power of innovative technology, organizations can now optimize their talent management practices, ensuring that employees’ skills are aligned with business objectives. Read about the key features you should consider when choosing the best skills management software.?
?? Tips from HR Superstars
We hope this new column has already become a habit and that it provides helpful tips from other HR peers like yourself. In this edition, we've found useful the post from 3Sixty Insights highlighting how AI and skills-based approaches can play a crucial role in eliminating discrimination in the workplace.
3Sixty Insights ?is a research and consulting firm helping companies discover strategic methods to optimize the overall decision-making process, effectively manage solutions, and maximize the overall value derived from investments in business software.
?? Hand-picked articles we loved
领英推荐
WEF: How Skill-Based Talent Management Boosts Productivity and Fairness in the Workplace
The article highlights that leading organizations have already started to recognize the shortcomings of traditional talent management models and are shifting toward skills-based models for talent management.
HBR: You Need a Skills-Based Approach to Hiring and Developing Talent
The author presents three ways for companies to upskill and reskill their existing workforce and take a skills-based approach to hiring new employees. One of them is offering people learning time and rewards. What do you think?
McKinsey: Taking a Skills-Based Approach to Building the Future Workforce
"In the face of ongoing macroeconomic challenges, now is the time for all stakeholders in workforce development to commit resources and support to accelerating adoption of skills-based practices and build more equitable prosperity in communities."
AIHR: How to Build a Skills-Based Organization: 10 Steps for HR
While shifting to skills-based practices won't happen overnight, the transition can be much smoother with a solid strategy in place. The main step that has attracted our attention is defining what "skills" actually mean to your organization. Which one stood out for you?
???In the Spotlight
Nestor at Viva Technology, the Biggest Start-up and Tech Event in Europe
We're excited to be in Paris — together with our partners from Orange — at Viva Technology 2023, where leaders and bright minds from all over the world meet to celebrate innovation.
Elon Musk, Marc Benioff , Dan Schulman , and Christel Heydemann are only some of the speakers sharing their invaluable insights this year.
During the event, Nestor will be highlighting how our innovative platform supercharges workforce transformation & organizational agility by unlocking the power of skills.
Thanks for reading! If you enjoyed our dose of insights about people management and the future of work ?? hit?Subscribe?so you never miss another update.
"Experienced Business Development Manager | Driving Growth through Strategic Partnerships and Innovative Market Strategies | Expert in Negotiation & Relationship Building"
1 年From a business perspective, the focus on skills-based talent strategies highlights the shifting paradigm in talent acquisition and development, where traditional educational qualifications or titles may be taking a backseat to actual skillsets and competencies that drive performance and innovation within companies.
Economics Graduate | Skilled in Research, Data Analysis & Financial Planning | Agile Project Management, Scrum Master & Jira Certified | Innovator in Sustainable Waste Management Solutions"
1 年This is a potential product. Thanks a lot
Sales Associate at American Airlines
1 年Thanks for sharing