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Workforce Transformation To Overcome Talent Shortage

Ioan Profiroiu

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We are in a constant workforce transformation - the industries are changing, the technologies are evolving rapidly, new types of jobs appears over night and new skills are required to achieve our business plans.  


As the World Economic Forum mentioned in their 2020 Report about Future of Jobs, companies estimate that around 40% of workers will require re-skilling of six months or less and 94% of business leaders report that they expect employees to pick up new skills on the job, a sharp uptake from 65% in 2018

And this is not all. At Jobful, we simply can't get over a study we've come across, which can only put everything into perspective. It goes like this: 

In a new Korn Ferry study that includes a sweeping country-by-country analysis, the biggest issue isn’t that robots are taking all the jobs—it’s that there aren’t enough humans to take them. Indeed, the study finds that by 2030, there will be a global human talent shortage of more than 85 million people, or roughly equivalent to the population of Germany. Left unchecked, in 2030 that talent shortage could result in about $8.5 trillion in unrealized annual revenues - according to a Korn Ferry study.

There are, simply put, too many variables working in this social cog that we've stumbled upon, from decades-long increasingly lower birthrates to the rise of digitalization and IoT. Not to mention that talent shortage, left unmanaged, could become responsible for slowing our technological evolution. 

Since talent shortage has become a real threat, companies have started to acknowledge the importance of skilled professionals. Below, you'll find a McKinsey study on the matter, and the future does look a little gloomy.

 

But it's not all bad!

Companies are starting to do a great job in developing employees’ skills through e-learning platforms, interactive courses, coaching, assignments, or other creative ways. And this is a great thing! Because each company needs to invest in its employees, to help them evolve and keep up with the changes. 


But what happens when a company needs to hire external talent? When they open new roles? Do they expect to find candidates already trained and ready to perform from day 1? 


There are a lot of people looking for jobs who have valuable skills and abilities, but not the right mix of skills that the company needs at that moment in time. Most of the companies are still looking for that 'perfect' candidate. But that 'perfect' candidate either doesn’t exist or is too expensive to be hired. 

The solution?

Training candidates before you hire them. Offer them access to learning materials, help them learn about the technologies that you are using, specific business concepts or skills that are important for your company. Many of the learning materials already exist in the company, and should be employed in the training and up-skilling of future employees. 

That's why we have integrated an LMS module on Jobful, where companies can get directly involved in up-skilling their candidates. 


Using this module, you can add your courses and learning materials and make them accessible to the candidates who are interested in working for your company. You can validate their understanding through quizzes and see who is a pro-active learner. Also, this can be a great way to emerge them faster in the company culture & values. 


Up-skilling the workforce is everyones’ job right now, and we need to get involved in this change.

Waiting for the ‘perfect’ candidate to apply to our job won't work anymore. 

Instead, let us show you the way.

 

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Transform your career platform into a digital playground that engages, up-skills, and qualifies your future workforce.

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