The Thursday Three: Exploring skills gaps, AI career coaching, and HR's AI adoption

There is no greater annoyance in the workplace than feeling like you know what to do but don’t have the tools or team to do the job. But are organizations investing in the areas they should be? Are they prepared for the reskilling revolution? And just how much of a role should AI be playing in HR teams?

We’re tackling these topics in this week’s DevSkiller TalentTech Weekly. Let’s dive in!??

How could AI shape the future of career coaching?

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According to an article from the World Economic Forum , AI has the potential to transform the future of career coaching. It highlights that AI technologies can help individuals navigate complex career paths, providing personalized guidance and resources.?

“Recent research that surveyed HR professionals working in a range of different industries found that 59% of them believe advice from AI can help people find their dream job.”

But how do you land that dream job? One of the key benefits of AI-powered career coaching is its ability to offer personalized guidance based on an individual's unique skills, interests, and goals. By analyzing vast amounts of data, AI algorithms can recommend relevant learning opportunities and career paths suited to each individual.?

Moreover, AI-driven virtual assistants can provide real-time feedback, helping individuals improve their skills and reach their career objectives.

Accenture estimates that large learning models (LLMs) will impact approximately 40% of working hours due to the prevalence of text-based communication in many jobs. This suggests that the influence of AI on career coaching will only continue to grow in the future.?

While AI can enhance career coaching, it’s not meant to replace human involvement entirely. The World Economic Forum emphasizes the importance of combining AI with human expertise to provide a holistic approach to career development. By leveraging AI technologies, career coaches can enhance their ability to support individuals in making informed decisions, adapting to changes in the job market, and tapping into new opportunities.

How HR can work with artificial intelligence, not against it

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By working with instead of against AI, HR teams can focus on what matters most: people.

The world is divided on the potential impact of artificial intelligence and what it holds for the future of work.?

AI and automation have the potential to transform HR, but HR managers are unsure how to integrate them while ensuring alignment with organizational goals. A Personio survey found that 43% of HR managers surveyed say they’re worried they'll lose their jobs as more of the HR function is automated. Despite uncertainties, HR managers see benefits in efficiency, decision-making, and employee experience.

HRZone shares their advice on how HR teams can use AI to their advantage.

HR teams are urged to embrace AI as a supportive tool rather than fear it as a job replacement. AI can automate tedious tasks such as payroll and recruitment administration, freeing up HR professionals to focus on strategic work and people-centric initiatives.?

By leveraging AI, HR can gain valuable insights from data analytics, ensuring unbiased decision-making in areas such as candidate selection and compensation planning.?

AI allows the HR profession as a whole, to demonstrate its value to senior leaders by delivering efficiencies in workflow and prioritizing strategic initiatives..?

“HR has never been in a better place to be able to step up and take the lead as a key driver of productivity and business success.”

HRZone’s research shows that 39% of C-Suite Leaders would like to see HR proactively advising on strategy in relation to business issues.?

To be positioned as a strategic partner, HR should actively advise on business issues and contribute to strategy development. Creating transparent KPIs that align with corporate strategy and priorities, is crucial for showcasing HR's impact on critical areas like hiring and productivity.?

By embracing AI and leveraging data effectively, HR can uphold its role as a vital driver of productivity and business success, while demonstrating its worth to the C-Suite through strategic contributions and tangible outcomes.

How L&D can close skills gaps & attract talent

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HR professionals face a range of challenges, including skills gaps, evolving technology, and shifting employee expectations. However, these challenges also present unique opportunities for attracting and retaining talent, while also positioning companies competitively in the long run.

To bridge skills gaps, companies must implement robust Learning and Development (L&D) programs. As the global economy becomes increasingly tech-driven, employees recognize the need to acquire new skills to stay relevant.?

To meet the demands of the modern workplace, HR professionals must go beyond basic technology tutorials. They should focus on cultivating a culture of lifelong learning within the organization, encouraging employees to explore diverse skill sets and interests. Companies that prioritize L&D employee programs stand a better chance of attracting talent.

HR teams who neglect L&D are missing out on an unprecedented opportunity. A PwC survey reveals that nearly 75% of employees are eager to learn new skills or retrain to enhance employability. Among younger workers, especially Gen Z, 76% expressed the need for more opportunities to learn and practice new skills. Despite companies recognizing the importance of reskilling employees, the lack of development initiatives and resources hinders progress in closing skills gaps.

Evidence shows that L&D yields substantial benefits, including a more adaptable workforce, cost savings, higher levels of employee satisfaction, and higher employee retention. Research indicates that reskilling existing employees is more cost-effective than hiring new ones, and companies that excel in internal mobility, largely dependent on effective L&D, retain employees for longer periods.

L&D also plays a role in building more diverse and inclusive workplaces. Organizations that prioritize skills over qualifications are 47% more likely to provide an inclusive environment. With the significant disparities in college degrees among different racial groups, focusing on skills allows companies to tap into a more diverse pool of talent and appeal to candidates who value workplace diversity.

Recommended reading: White paper - The skills-based approach to workforce management

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Want to learn more about how you can close the skills gap with skills management? Our DevSkiller Skills Management & Assessment Report 2023 provides a look into the trends previously mentioned and predictions for how AI will shape the future of work.

Gain valuable insights into the evolving landscape of skill evaluation and development. Discover the latest trends, best practices, and cutting-edge strategies to empower your workforce.

Take advantage of this opportunity to stay ahead in skills assessment. Download your copy now and revolutionize your approach to talent development. Equip your organization with the tools to thrive in 2024 and beyond.

Written by: Alexandra Paasch