Organizations that are looking to capture untapped potential or achieve improvements in growth or efficiency often turn to transformation. To make sure that employees have the necessary skills and knowledge to support a long-term business transformation effort, it is important to take an inventory of their current abilities. This will help identify which skills are being used and which are waiting to be applied. It is also essential to keep in mind that new types of work will require new or adaptable skills.
In order to determine the “most in demand competencies” (competencies with a high demand but low supply) on which to focus efforts, organizations should look at the data available. This data can be used to inform workforce planning and provide employees with the opportunity to access experiences that were previously reserved only for those who perceived high potential. Additionally, 61% of business executives say that new technologies, such as automation and artificial intelligence (AI), which require new skills, will be the main driver for their organization to adopt a skills-based approach. Organizations are now adopting an entirely new operating model for work and the workforce that prioritizes skills, rather than jobs. This model gives everyone the possibility to access the types of experiences that were previously reserved only for those who perceived high potential, which now democratizes opportunities for all.
For example, the United States Department of Defense and private sector defense organizations jointly created the Public-Private Talent Exchange to share talent between organizations through temporary projects and tasks. Talent development can also help organizations address growing number of skills gaps and employee retention problems. A Quantum Workplace report revealed that 79% of employees are more engaged and attracted to companies that offer continuous learning and development opportunities. Investing in employee development is more than worth it when it comes to these business goals. The Organization Transformation (OT) helps ensure that the organization changes the way it works in the long term, so that the company does not return to old ways as transformation initiatives are completed. This is important at a time when employers are doing everything they can to keep employees connected while working remotely. To guarantee success in a long-term business transformation effort, organizations must take an inventory of their employees' current skills, identify the “most in demand competencies”, adopt a skills-based approach, invest in employee development, and use Organization Transformation (OT) to ensure long-term change.