In an increasingly challenging environment, the quality of the workforce is the differentiating factor. Technology can be replicated and capital can be acquired. In the final analysis, the competitive edge is determined by your people.
17% of executives said that over 60 percent of their workforce requires substantial reskilling for new roles today. [Accenture Consulting]
43% of executives said that over 60 percent of their workforce will require substantial reskilling for new roles over the next three years. [Accenture Consulting]
61% of workers would be willing to have technology collect data about them and their work in exchange for more customized learning and development opportunities. [Accenture Consulting]
Companies should reinvent themselves to deliver more personalized employee learning experiences based on roles, job profiles and competency-based assessments. [Accenture Consulting]
74% of organizations say reskilling the workforce is important or very important for their success over the next 12???18 months, but only 10 % say they are very ready to address this trend. [Deloitte Global Human Capital Trends]
73% of Deloitte Global Human Capital Trends survey respondents identified organizations as the entity in society primarily responsible for workforce development. [Deloitte Global Human Capital Trends]
What is the answer?
???What is needed is a worker development approach that considers both the dynamic nature of jobs and the equally dynamic potential of people to reinvent themselves. To do this effectively, organizations should focus on building workers??? resilience for both the short and the long term???a focus that can allow organizations to increase their own resilience in the face of constant change. [Deloitte Global Human Capital Trends]
A system that invests not just in workers??? near-term skill needs but also in workers??? long-term resilience can help build long-term organizational resilience in a world where the only constant is change. [Deloitte Global Human Capital Trends]
Today, the qualities that workers???and organizations???need to survive and thrive are very different from those they needed in the past. One reason for this is that economies are shifting from an age of production to an age of imagination. In the past, business success relied mainly on deploying precisely calibrated skills to efficiently construct products or deliver services at scale.
Today, success increasingly depends on innovation, entrepreneurship, and other forms of creativity that rely not just on skills, but also on less quantifiable capabilities such as critical thinking, emotional intelligence, and collaboration. [Deloitte Global Human Capital Trends]
The Future-Readiness Program recognizes key imperatives
- The demand for increased effectiveness and responsiveness to stakeholder needs.
- The urgent need to keep pace with change and the rapidly evolving digital environment.
- The recognition that addressing items 1 and 2 requires a thorough-going, consistent and across-the-board upskilling and worker resilience development program.
The Future-Readiness Program stands on 3 main pillars
I. Use of a values-driven e-Competency Framework 2.0 (ECF 2.0) as a guardrail and compass to guide governance, performance and workforce management processes.
II. Development of a Fit-for-Purpose workforce by implementing Gap Analysis processes based on the ECF 2.0 that guides Learning & Development, Recruitment & Selection and Succession Planning.
Implementation of a Workforce Development Program to establish essential role-related competences, execute reskilling programs, prepare a cadre of future-ready leaders and build resilience into the organization. MORE
III. Implementation of a High Performance Team Boost program to enhance productivity and engagement and promote individual and organization resilience. This component incorporates the application of an assessment-driven DISCerning Communication & Leadership Framework that anchors culture change efforts in the context of interaction among team members and relationships with stakeholders. MORE