With the slew of Millennials and Generation Z joining the workforce, it is radically changing how talent is managed, developed and incentivised. In a world of changing labour markets and more demanding employee population, having basic skills are simply not enough. Moreover, this leads to a call for increased sophistication in hiring to ensure that the future will not be a continuation of the past.
Due to automation, digitisation and globalisation, the workforce today need to upgrade their skills in order to catch up with the ever-changing labour market. Additionally, Human Resources (HR) need to realign their goals to help alleviate the skills gap and groom a talented workforce of the future.
However, more often than not, we see a gap between employee and the employer and HR, resulting in lack of employee development, discontent with managers or overall lack of employee engagement. In order to bridge this gap, it will require several substantial changes from HR. This includes developing managerial capabilities to deliver a compelling career proposition to the workforce of today.
Here are four priorities for organisations to address in order to build up a talented workforce of the future.
Focus on building diverse talent pools
With globalisation, talented workers are not limited to a specific industry, skills set or geographical location. Instead, rethink about the talent acquisition processes by identifying talent flow opportunities as well as innovative methods of sourcing and recruiting. Focus on sourcing from a diverse talent pool and embrace emerging competencies. These up and coming skills could very well be the skills of the future.
Embrace the new work equation
It is no longer a “one size fits all” kind of workplace. Instead, the new work equation is “one size fits one”. Develop a growth culture within the organisation that supports flexibility and self-development. Providing employees with the autonomy to carve their own career paths enhances employee engagement and are likely to be more motivated to constantly upgrade and contribute more towards the organisation.
Construct compelling careers
Design career frameworks around career direction and velocity that aligns the organisation’s succession goals together with the expectations of individual employees. This sets the expectations for employees on their personal career progression and ensures that it is in line with organisational needs.
Simplify talent processes
Finally, realise the importance of HR in developing these talents. The HR function is imperative in developing employee experience as well as delivering strategic talent insights. Moreover, it is essential for HR to build and establish the role of top management in promoting a talent-driven environment.
These priorities are only some that organisations should look at to grow a talented workforce of the future. Additionally, with the increased investment in HR technology over the past few years, this has enable HR to focus on playing a more strategic role in developing talent. Now, it is time to upskill HR to further make use of technology such as predictive analytics to groom a talented workforce.
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