Three ways to help your organization adapt to a world where skills are the new currency

When I was at university, I started a small business. I played music at weddings and, before you laugh, I actually made pretty good money for a student – enough to pay the bills. Most importantly, I developed an entrepreneurial skillset that I couldn’t have learned in the classroom.

Today’s employers are coming to the same realization: on its own, the traditional model of education and working isn’t going to serve our future needs. That’s why, instead of university transcripts, organizations and their recruiters are now more focused on skills as the new currency of the labor market.

Our world presents complicated and multifaceted challenges that demand new skills and attributes. Businesses are placing more value on competencies like adaptability, drive, resilience, learning agility and whether someone is technology-focused. They’re also looking for the type of emotional intelligence that encourages collaboration in a virtual world and leadership skills that bring out the best in others.

?Reflective of this, the teams and I at EY have become more thoughtful about the type of skills the organization is looking to acquire and develop. The EY organization is not just upskilling its current workforce, but thinking bigger picture about how skills can keep us agile, connect our people to our purpose and create long-term value in our communities.

How can organizations make sure they achieve the right mix of people and skills in the right place, at the right time? Here are three things I’ve learned.

1.???Inspire your people to be intentional about their careers.

Organizations want people to seek out the experiences that will help them bring out the best in themselves and others. The EY organization's value proposition is ‘It’s yours to build,’ which means giving EY people all the tools to build an exceptional career and make an impact, their way. That includes employee recognition and career development based on skills and mastery, which means EY people can develop the mindsets and technology skill sets they need to navigate whatever comes next.

2.???Develop flexible education and training that responds to constantly evolving needs.

The best way we can future-proof our careers is by becoming continuous learners. The EY organization is helping its people upskill with EY Badges – where learners earn digital certifications in a wide variety of topics including transformative leadership, design thinking, robotic process automation and sustainability. The EY Tech MBA , offered in association with Hult International Business School, is the first-ever fully accredited corporate MBA that’s available regardless of role or position and entirely for free to all 300,000-plus EY employees in more than 150 countries. Through its innovative virtual learning model, the MBA allows EY people to develop the technology, leadership and business skills they need from anywhere in the world, in a way that truly suits them.

3.???Find new ways to build a diverse and inclusive culture.

We already know diverse teams mean better outcomes. Diversity is about differences, but that doesn’t just mean visible differences like gender or race. For example, neurodivergent individuals have tremendous talent that is often unrecognized. EY teams are capturing these skills through the EY Neurodiversity Centers of Excellence , which employs more than 100 professionals in six?COEs, with three more on the way.?Beyond just hiring diverse talent, it’s also important to ensure voices are heard and people can participate to their fullest potential.

As we continue to experience such rapid change, it’s exciting to see how talent and culture have moved to the forefront of thinking around strategy, innovation and creating long-term value. It’s also great to understand how organizations are shifting their focus from traditional qualifications to understanding and utilizing skill sets and mindsets. Digital transformation alone won’t equip us to meet the challenges the future brings. We need to focus on helping people develop the critical future-focused skills they need and enabling them to make the most of those skills to serve clients and build a better working world for generations to come.

The views reflected in this article are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.