Changes in the world of work, evolving employee expectations, and advances in technology are creating a perfect storm that is transforming today’s workplace. Pitched against a backdrop of growing skills gaps, the pressure on organisations to rethink their talent approach – and systems – is intense.
The Fosway Group, in partnership with Skillsoft and SumTotal, recently undertook a research project designed with the single aim of shining a spotlight on the realities of the modern workforce. What we found is both compelling and illuminating. If you feel your HR, talent, and learning efforts are behind the curve when it comes to dealing with these challenges, then you’re not alone. Our research shows that only 44% of professionals feel their talent management strategy is “ready.”
After 20 years of analysing HR, talent, and learning data, it’s been fascinating to take a deeper look at the macro environment and the key factors affecting organisations today; most of which are completely outside our control. But if they aren’t acknowledged and adapted to, will leave organisations without the people and the skills needed to take them forward.
Some key findings from the research include:
- In only 16% of cases is organisational culture not a barrier to when looking to improve talent management processes.
- 86% find managers’ skills and attitudes an issue when meeting the expectations of the modern workforce.
- In the most vulnerable areas of digital, soft skills, leadership, and management skills, less than 15% of respondents think they have all the skills they need to succeed today, never mind tomorrow.
- Around 67% of our survey respondents say that workers now need to learn – and get up to speed – more quickly.
- 44% report that employees are working more often using a mobile device as their primary tool.
There are so many buzz words swirling around our industry at the moment – gig economy, Millennials, skills shortages, war for talent…the list goes on and on. Behind the hype are some stark realities for HR, talent and learning professionals. We need to respond positively to really engage with the workers of today – and tomorrow.
To get your hands on this invaluable report, download your copy here.
Ahead of his keynote session at EMEA Perspectives, David Wilson, CEO of Fosway Group, Europe’s #1 HR analyst, talks to us about transforming talent in the modern workforce.
There is so much happening in the macro environment that affects what HR and learning professionals are doing within their organisations. And they are all pretty much out of our control. Technology, politics, and changing generations are just three factors that are having fundamental impacts on the workforce of today – and tomorrow.
And all of these factors represent major challenges for the acquisition, development, and retention of talent. People look for jobs in different ways today. They take roles based on evolving benefits – salary isn’t the only driver in today’s world of employer rankings and reviews for example. And it is no longer all about simple career progression either. Other aspects of corporate social responsibility (CSR) and flexibility are becoming almost as important. One blue chip company I spoke to recently had graduates who have been in the job for just two years requested sabbaticals…I have been working for 30 years and still have yet to take a sabbatical!
But having said that, generational stereotypes can be more harmful than helpful. Sometimes, I feel like the world’s oldest millennial, based on the clichés that are often thrown around about Gen Y in the workplace. Lazily grouping your people together based on their age isn’t going to help tackle these broader challenges. A more strategic view is needed to understand what will motivate and engage your people once they join your organisation. And from a stakeholder perspective, HR and L&D need to balance today’s requirements against future skills gaps and evolving organisational capabilities. No easy task!
In my keynote session at this year’s EMEA Perspectives, I will exclusively reveal insights from new research that Fosway Group has conducted in partnership with Skillsoft and SumTotal. With over 400 participants from across EMEA, the data is telling some interesting stories, and I am looking forward to sharing some thoughts on how to transform talent in today’s modern workforce.
Find out more about EMEA Perspectives and register for the event, here.