Closing the Talent Skills Gap - Attract, Retain and Grow vs. Fire and Hire | Sessions
We are in a capabilities crisis. 87% of companies are either currently experiencing a skills gap or expect to in the next few years. In this session, Moses and Heather will discuss the value of continuous learning through upskilling and apprenticeship to both retain talent and ensure a future-ready talent pool. They’ll provide implementable ways for businesses to build capabilities at scale.
Understanding the impact of today's talent gap: Today's talent gaps leave a lasting impact on a business that can be hard to overcome with mounting pressures to perform at high levels. A recent Korn Ferry study shows that by 2023 there will be a global human talent shortage of more than 85 million people. That talent shortage could result in roughly $8.5 trillion in unrealized annual revenues. The pace of technological change is only increasing, and if employees aren't able to adapt to new technologies and shifting consumer demand, their employers risk falling behind. The audience will leave with an understanding of why upskilling is so critical for their companies. How to cater to employee upskilling needs: Employees have the desire to upskill in order to advance their personal and professional careers. Gallup found that a perceived lack of growth opportunities is the top reason employees leave their jobs, and a PWC survey showed 77% of employees want to develop additional skills to keep their options open. Upskilling is a win-win solution for employees and employers alike, and attendees will leave the session with tactical ways to implement learning and development opportunities at their organizations that will help increase employee engagement. Ways to maximize and unlock potential: Upskilling efforts need to be targeted and aligned with both the company's and employees' needs to provide a strong ROI. While some employees may find value in generalized content libraries or other low-cost options, more find the ability to accelerate their growth through programs contextualized for the specific needs of the company and industry. The audience will leave understanding the different format options available when it comes to upskilling courses and how to choose which best fits their organization.
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