By Natanya Rutstein
The 4th industrial revolution coupled with the impact of the world’s aging population will have significant repercussions on the future composition of our workforce. Current talent shortages are set to increase even further with automation causing unparalleled disruption to entire industries across the globe. New skills will be required and others made redundant in order to support and implement artificial intelligence, automation and the internet of things.
The McKinsey Global Institute estimates that at least 375 million workers will be forced to learn new skills by the year 2030 as their jobs either change or disappear due to automation. The McKinsey research shows that the demand for occupations such as managers, technology specialists, and health professionals could rise by up to 20 percent in the year 2030, with the demand for administrative and manual roles declining steeply.
Now more than ever it is vital for HR professionals to meet these future workforce challenges by preparing the organisations for the coming of new roles and securing the future skills required specifically in the areas most likely to experience increased talent shortages. This requires a talent strategy which is both proactive and creative in its mission to minimise redundancies and transition the workforce.
If this seems like an insurmountable task then here are a few tips to get you thinking about where to begin in creating your talent management strategy and preparing for the inevitable future workforce challenges.
Identify the roles and skills that will be needed in the future
Gather information on the organisation’s current and future strategy
- Analyse the strategic objectives to identify the talent implications of the objectives
- Identify the mission critical or pivotal roles that will assist in achieving the current and future strategy.
Talent Health Check
Do an analysis of The Talent Health in the organisation by examining your current talent supply, the predicted talent demand and identifying the obvious talent gaps.
Craft Your Strategy
It is only once you have determined the future skills requirements for your organisation and the gap that needs to be bridged that you can begin to craft your talent management strategy and framework and solicit the necessary support and buy-in in order to bring it to fruition.
The Talent Hub International provides Talent Management Services to all organisations in line with The Talent Hub’s Integrated Talent Management Framework© and Talent Management Process© and can support you in your journey of building a competitive workforce for the future.