Digital transformation to power the future ready workforce
Posted on: 21/01/2022
The skills gap is no longer a gap. The world of work is blindly heading towards a skills crisis. The speed of change is accelerating as the upskilling and reskilling of the workforce is falling further and further behind. The World Economic Forum stated that 50% of jobs we have today will disappear in the next three years, so it is more integral than ever that companies understand the jobs of the future, and how they will go about filling them. Factor in the global pandemic’s impact, exacerbating job movement as people re-evaluate their career aspirations, as well as accelerating digitalisation as people were forced to work from home, it’s time for businesses to adapt and thrive, or simply be left behind.
Economic growth, however, is on the horizon. With an injection of capital and the development of new technologies, now is the time for companies to invest in their greatest asset – their people.
Re-orienting to a “back to human” approach
The pandemic served to highlight how previous HR priorities have somewhat neglected their vital human element. Leaders are often caught on an endless journey to optimise processes, reduce costs, and ensure their technology is the latest and greatest. Somehow, those who will be responsible for running those programmes, and training to adapt as they develop and change, have been forgotten. With the Covid-19 shedding light on employee demands to meet mental and physical health needs, this “back to human” approach is more essential than ever.
The future of talent strategy must be data-driven
Going forward, it seems as though flexible working is here to stay. Leaders need to make sure they understand their people, by having meaningful conversations which they can track and record to drive a level of engagement. This is where data is the key! Essentially, companies should adopt a different mindset whereby learning is woven into the very fabric of what they do, where data provides employees with the opportunity to gain the skills to advance their careers internally. The vast amounts of data that businesses are now generating means that manually inputting that data is no longer an option. The job is too colossal to be done effectively by humans. Businesses need to leverage AI and machine learning to do the heavy lifting for them. Businesses will benefit from higher talent retention, a happier, more engaged workforce, and a consequently more agile and dynamic business model.
There are two ways of thinking about digital transformation from an HR standpoint.
First, there’s the transformation of a business. Becoming more digital or changing business models requires new skills. The capability of the workforce must match an organisation’s ambitions. This means assessing the skills they have, the skills that need to be developed and the skills that are missing – this requires capturing a deep understanding of the unique interests, strengths, goals and needs of each individual employee.
Secondly, there’s the transformation of the HR department. This means streamlining and enhancing processes – for example, enabling self-service learning, giving employees the ability to personalise their career path, and using AI to prompt learning and development.
The industry leader in adaptive HR solutions, Cornerstone, has created a vision for a new system of work that has been designed to help organisations and its people meet this evolving nature of work, together. Cornerstone’s latest innovation is Cornerstone Xplor, a core component of the company’s vision, providing a holistic people growth experience that delivers a fully integrated journey of learning, skill development, growth and career mobility for every person. Cornerstone has leveraged AI and deep learning capabilities to create a platform whereby people can create their own growth experience that’s uniquely personal. Employees can create profiles detailing the skills they have, as well as the skills they wish to develop in order to advance their careers, the technology then offers them modern and relevant training materials in order to reach these career goals. Ultimately, talent leaders can cultivate a workforce of connected, thriving individuals who are aligned in purpose and success.
Talent strategy at DP DHL
A fantastic example of a company embracing a skills-first approach is Deutsche Post DHL. By leveraging Cornerstone Xplor, companies such as Deutsche Post DHL have been able to create internal career marketplaces. Founded upon a complex skills ontology, this internal marketplace accurately matches skills portfolios to available jobs. All employees can use the platform not only to learn within their current role but also to develop the skills required to advance to the next. This has not only driven engagement, as employees are empowered by being in control of their own learning and career development, but also falsifies the notion that you have to change company to advance your career. Employees can see a clear path of progression within the company, encouraging internal mobility, and thereby combatting the ‘Great Resignation’ Challenge.
Cornerstone is committed to the success of its customers and maintaining its position as the market leader in adaptive HR solutions, and to fulfilling its commitment to developing a new system of work that meets the transformative needs of today’s workforce, helping companies and people to adapt and upskill to remain competitive. A key challenge for many organisations – and an area Cornerstone has been hugely successful in – is masking complexity (workflows, organisational structures, permissions etc.), breaking down technology silos, and ultimately serving up a very intuitive and engaging experience for each employee. The Cornerstone Xplor experience enables modern talent leaders to meet their people where they are at with a highly individualised and fully connected growth experience, at scale.
AI technology gives organisations the means to accelerate upskilling and reskilling, putting them on the front foot to meet the needs of the business in the future. With growth on the cards for many organisations, no is the time to rethink employees’ career experiences in order to fuel organisational success.