Beyond the résumé: Building a workforce with a skills-based approach insight report

Beyond the résumé: Building a workforce with a skills-based approach

Learn how organizations can use a skills-based talent strategy to close the skills gap and support a more digitally-enabled workforce.
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Overview
Summary

Within the next five years, 23% of jobs will change, with 44% of workers’ core skills changing. In this rapidly evolving work landscape, it’s no surprise that HR leaders are increasingly embracing skills-based hiring and workforce planning.

In this insights report, we delve into the shifting job market and the crucial role skills-based hiring plays in building a future-ready workforce. We explore how HR leaders can upskill and reskill their workforces, leverage skills adjacencies, and foster a culture of continuous learning to stay ahead of the skills curve in an increasingly competitive environment.

Read our latest insights report to learn:

  • Why résumés are poor indicators of a person’s potential and why you need a modern approach to hiring that looks beyond the traditional résumé
  • How to tackle growing skills gaps with a skills-based approach to hiring and workforce planning
  • Five steps you can use to transform your talent strategy and equip your employees with modern skills to remain competitive

Picture yourself in a world where the ink on your freshly minted job description is outdated as soon as you post it. Or being tasked with creating a skills taxonomy for your organization that’s no longer relevant as soon as you finish it.

That’s not far from the reality we face today. With digital skills having a shorter half-life than ever before — some technical skills down to 2.5 years — the future of work demands a new approach to hiring and workforce planning.

With the latest wave of AI, including the impact of generative tools like ChatGPT, approximately 300 million jobs could be affected. The World Economic Forum’s 2023 “Future of Jobs Report” states that 23% of jobs will change, with 44% of workers’ core skills changing within the next five years.

According to Deloitte, the majority of executives and workers would prefer to move to a skills-based model over one based on jobs. In this rapidly changing work landscape, it’s no surprise that HR leaders are increasingly embracing skills-based hiring and workforce planning.

In this report, we delve into the shifting job market and the crucial role skills-based hiring plays in navigating the future of work. We also explore how HR leaders can upskill and reskill their workforces, leverage skills adjacencies, and foster a culture of continuous learning to stay ahead of the skills curve in an increasingly competitive environment.

Tackling the green skills gap with a skills-based approach

It should come as no surprise to business and talent leaders that the WEF report also found that “six in 10 workers will require training before 2027”,” the fastest-growing roles being driven by technology, digitalization, and sustainability. Yet it appears that only half of workers have access to adequate training opportunities today.

To truly address the skills gap in the renewable energy sector, organizations need to take a multipronged approach to determine whether they need to build, buy, or borrow talent. It’s an approach that’s especially well-suited to the green energy sector, where the skills gap is a notorious problem.

Skills-based hiring can also help organizations widen their talent pool. Recent research demonstrates that there are millions of “invisible” workersin the labor force today — talented individuals who are often overlooked for roles they can adequately perform due to factors that have nothing to do with skills. By focusing on a candidate’s skills rather than their formal education or work experience, your organization can tap into a broader pool of talent they may have previously overlooked.

Switching to a skills-based approach won’t happen overnight, but here are five steps you can use to start the process and equip your employees with the skills they need to handle the challenges of tomorrow.

Identify skills needed for future job roles

As the job market evolves, so do the skills required to excel. It’s critical to take the time and effort to understand the specific skills you’ll need for future job roles — and map them to existing and potential employees.

By planning your talent development intentionally, you can make informed hiring decisions that align with long-term goals. Organizations will need to increasingly incorporate external data for insights and guidance as they pivot into new areas and create jobs and roles they have not had in the past.

Hire for potential and embrace continuous learning

Traditional hiring practices overemphasize candidates’ education and work history. Skills-based hiring can help you identify “invisible” workers with high potential who have all the skills they need for success — but who might be overlooked because they lack the traditional qualifications.

Upskill the existing workforce

If you want to stay competitive, it’s essential to equip your workforce with the skills they’ll need for the future — today.

In our survey of nearly 1,000 full- and part-time employees, among the things they value most from employers, 70 percent said promotion opportunities, followed by 69 percent who cited a transparent career-development process. And over 90% of companies that offer upskilling and reskilling programs report that they’ve raised productivity, highlighting the value of providing ongoing opportunities for continuous learning and growth.

Develop training programs, workshops, and online courses that offer the specific skill sets your employees need for the future. A culture of continuous learning won’t just help your employees stay competitive — it’ll also boost engagement and retention rates.

Transition declining roles to new career paths

While it’s critical to prepare for the jobs of the future, it’s also important to recognize that some jobs and skills will become obsolete. In these situations, you’ll want to proactively identify employees in outdated roles and help them develop future-ready skills.

By offering reskilling and upskilling programs, you can retain valuable talent and demonstrate their commitment to your employees. This process also includes assessing your team member’s skill sets to determine how to leverage their skills adjacencies and prepare them for new roles. This can help fulfill changing organizational needs while being considerate of employees and the bottom line.

Recalibrate roles with future skills

Creating a workforce that’s prepared for the future involves aligning job roles with the evolving set of required skills. This alignment may necessitate reshaping existing roles, inventing new ones, or refining job descriptions to highlight specific in-demand skills.

Here’s where the power of technology comes in. By automating certain job aspects, you can enable your employees to concentrate on tasks they’re uniquely skilled for. It’s a two fold benefit: you improve overall productivity while fostering job satisfaction. Integrating skills assessments into the hiring process, along with leveraging technology to adapt roles for future skills, will help you not just attract but also retain the talent you need.

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