As business leaders are hustling to move forward with digital transformation, reskilling of the workforce is similarly calling for attention. Automated jobs are the result of emerging technological advances hence, organizational restructuring happens to suspend job redundancy. With this innovation, one might ask if people are now invaluable to industries. Despite this turning point, new jobs are arising requiring skills not yet necessary at this time.
Reports say that by 2030, demand for skilled workers globally will result in a talent shortage of more than 85.2 million people. In less than two years, companies and economies will have to go around to find suitable talents for them to carry on. If left unaddressed, this crisis would stir the global balance of economic power and could destabilize the lives of an entire generation and society.
So how should organizational leaders respond to this issue? Companies need to accelerate recreating the future workforce as talent shortage greatly affects Asia-Pacific causing the failure of generating $4.238 trillion. As a matter of fact, the global talent shortage is more associated with a shortage of skills rather than a shortage of people. Repetitive tasks could be done with technology but new roles occurring because of restructuring are indeed demanding a capable workforce. Subsequent to reskilling is innovating the ways of working so as to fit perfectly in the new working environment.
Shifts in the business landscape are constantly happening. While it is important for companies to not get left behind these advances, it is also more significant to harness the potential of the people. Having a pipeline of strong talent pool better positions a company in the industry competition.
Hear what are the reskilling strategies of HR executives and join other relevant discussions on HR Tech & Transformation, Total Rewards, Learning & Development, Employee Branding, Organizational Agility, and Employee Engagement across Asia-Pacific in the 10th HR Leaders Asia 2022 on April 27, 2022, in Dusit Thani Manila, Philippines. For more information, visit https://hrleaders.rockbirdmedia.com/