Why skills-based practices are essential to talent management

Our guide explores how skills-based practices improve hiring, reskilling, and development outcomes.

This is a crucial topic as organisations wrestle with today's skills challenges:

• Over 70% of organisations worldwide are experiencing difficulty finding the skilled talent they need. Meanwhile, 42% of businesses believe that skills shortages have caused reduced activity or output.
  
• The World Economic Forum (WEF) estimates that 23% of global jobs will be transformed by technology over the next 5 years, requiring significant upskilling and reskilling of employees.
• Gen Z will soon become the most populous employment generation, with estimates suggesting it will comprise 30% of the workforce by 2030. Highly focused on career development, this generation will only be attracted and retained if there are substantial learning and development opportunities.

To respond to these challenges, leading authorities such as Deloitte, McKinsey, and WEF are recommending that businesses “adopt a skills-based approach to talent management.”