Companies are already feeling the heat.
- 60 percent of global executives in a recent survey predict that up to half of their organization’s workforce will need retraining or replacing within five years.
- An additional 28 percent of executives anticipate that more than half of their staff will need to be re trained or replaced.
- Over one-third of the survey respondents said their organisations are unprepared to address the skill gaps.
How can organisations prepare better for what’s coming?
For starters, they should incorporate a more expansive and dynamic view of their talent supply — one that throws out the typical worry with titles and traditional roles and looks instead at the core skills people have. Indeed, we find that when companies start with skills—the ones they need, the ones they have, and how the mix may change over time — they can free up their thinking and find more resourceful ways to meet the expected mismatches.