Solutions to Talent Planning in a Dynamic Digital Landscape

In today’s fast-paced and ever-changing business landscape, the task of predicting the skills that will be essential in the near future is proving to be a formidable challenge for organisations. Recent research by the World Employment Confederation¹, involving 715 senior executives and nine experts from around the world, gives us an insight into the trends reshaping the world of work and highlights the difficulties businesses face in talent planning.

The rapid advancement of technology and shifting market demands contribute to a dynamic environment where the skills required today may become obsolete tomorrow. A fact that is reinforced by 78% of the same senior executives¹, who say that they can’t keep up with the speed that they need to train employees to keep pace with AI and other technology developments.

The research also reveals a significant shift in the strategies used to find and retain talent. An overwhelming 92% of senior executives believe that traditional approaches are no longer effective and that a more flexible workforce is required now and in the future¹. This sentiment reflects a broader recognition that the old methods of talent acquisition and retention are inadequate in addressing the complexities of the modern workforce. In the past, organisations could rely on well-established practises, such as standard recruitment processes and long-term employee retention strategies. However, these approaches are proving insufficient in a world where adaptability and innovation are paramount.

Using agency workers, freelancers or contractors can offer organisations several advantages, including:

1. Flexibility and agility – workers provide organisations with the ability to quickly scale their workforce up or down based on immediate needs.
2. Access to specialised skills – workers often bring specialised, hard to find digital skills, such as experience in AI, AR or VR.
3. Faster adaptation to market changes – workers with the required skills can help organisations to quickly adapt to market changes and therefore maintain a competitive advantage.
4. Knowledge transfer – workers with specialised knowledge and skills can work alongside permanent staff and share their expertise, techniques and best practises, thereby facilitating on-the-job training and development.

While agency staff, freelancers and contractors can offer flexibility and fill skill gaps, excessive reliance on them can lead to several drawbacks. This includes financial implications, as agencies often demand high rates for workers and can add considerable fees for their services. But more importantly, increasing non-permanent staff can have a negative impact on the company’s culture and productivity. There can be weakened employee loyalty, lower morale among staff, a difficulty in maintaining consistency in service delivery and a lack of continuity within teams. Frequent changes to staff can cause knowledge transfer challenges and cause an increased workload for permanent employees. So, if an organisation takes the strategic approach of employing non-permanent staff, it’s essential that they strike a balance between the benefits and drawbacks.

So how can employers plan for future skill requirements in this rapidly changing landscape? Unfortunately, none of us have a crystal ball to predict the future, so it comes down to research, planning and being prepared to make strategic changes. Some pointers to consider:

1. Where are we now and what are our future requirements?
   • Conduct employee job analysis – Jobs often evolve over time as employees develop new skills and adapt to changes in the business, so use survey/questionnaire software to collect data on current employee’s duties and responsibilities. This data will help inform how well jobs and skills will match future strategic objectives.
   • Monitor industry trends to stay informed about technological advancements – attend industry conferences and webinars to learn from peers and about best practices.
   • Conduct competitor analysis – use SEO tools to research growing trends in products or services, look at how customers are driving trends and what’s new in the market.
   • Scenario plan – use AI to help predict digital transformation in your industry; roles and skill requirements of the future.
   • Draw up strategic goals.
2. What jobs and skills will we require?
   • Conduct competency mapping – use software to identify and map the competencies required for different jobs, aligning them with organisational goals and strategies
   • Use skill assessment tools to evaluate the skills and competencies of current employees to ensure they match job requirements.
3. What actions can we take?
   • Cultivate a learning culture
   • Invest in workplace training
   • Promote internal mobility – take a look at ‘How to Unlock In-House Talent with an Internal Mobility Strategy’
   • Build a flexible workforce
   • Develop a project based workforce where agency workers, contractors or freelancers can be brought in for specific projects that require specialised skills.

Talent planning may be more difficult than ever, but with the right strategies and a willingness to embrace change, organisations can turn this challenge into an opportunity for growth and innovation. They will also build a future-ready workforce that is equipped to thrive in the age of AI and digital transformation.

Author: Carolyn Lewis

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Source:
1. https://insights.wecglobal.org/the-work-we-want/home/