In a world where the only constant is change, supporting workers in reinventing themselves offers organizations a sustainable path forward as they aim to equip their workforces to do the work of today—and the future.

As economies are shifting from an age of production to an age of imagination, the qualities that workers—and organizations—need to survive and thrive are very different from those they needed in the past. In our 2020 Global Human Capital Trends survey, 53 percent of respondents said that between half and all of their workforce will need to change their skills and capabilities in the next three years.

 

Reskilling alone may however be a strategic dead end. Renewing workers’ skills is a tactical necessity, but reskilling is not a sufficient path forward by itself. The skill shortage is too great, investments too small and the pace of change is too rapid, quickly rendering even “successful” reskilling efforts obsolete. What is needed is a worker development approach that considers both the dynamic nature of jobs and the equally dynamic potential of people to reinvent themselves. To do this effectively, organizations should focus on building workers’ resilience for both the short and the long-term—a focus that can allow organizations to increase their own resilience in the face of constant change.

 

Through a resilience lens, reinvention shifts from something that could threaten worker security to the very thing that defines it: workers who are able to constantly renew their skills and learn new ones are those who will be most able to find employment in today’s rapidly shifting job market.

 

Based on this year's Global Human Capital Trends survey, we see five shifts that can help organizations build resilience:

   • From building skills to cultivating capabilities first, skills second;

   • From developing specific workforce skills to meet short-term needs to leveraging workers' "passions of the explorer" to engage them in solving unseen and future problems;

   • From focusing on formal training and traditional education to supporting learning in the flow of work;

   • From rewarding based on work output to rewarding based on capability development;

   • From preparing the workforce with an internal focus to preparing the workforce with an eye toward what benefits botht he organization and society.

 

These shifts capture how organizations can think about what their workers should be learning (cultivating capabilities and engaging in unseen and future problems), how they should be learning (in the flow of work and motivated by rewards), and where they should be looking to apply what they learn (future opportunities both inside and outside the organization).

A system that invests not just in workers’ near-term skill needs but also in workers’ long-term resilience, developing their capabilities as part of work and embracing a dynamic relationship with the organization’s broader ecosystem, can help build long-term organizational resilience as well.

 

In this series of articles, we will introduce you to each of the 2020 Deloitte Global Human Capital Trends and show how organizations can work within an environment shaped by the fusion of technology and people to embed purpose, potential and perspective into the DNA of how they operate. If you would like more information on Beyond reskilling – Investing in resilience for uncertain futures, please contact the Deloitte Banking and Human Capital Leader, Pascal Martino (pamartino@deloitte.lu).

 

And if you would like to view the full 2020 Human Capital Trends report, please download it here: https://www2.deloitte.com/lu/en/pages/human-capital/articles/human-capital-trends.html#1

 

Look for our next article “The compensation conundrum: Principles for a more human approach.” to learn about the need for a path forward that is anchored not only on data and benchmarks, but also in a set of human principles that go beyond numbers to break the seemingly endless cycle of compensation reforms.

 

Communicated by Deloitte Luxembourg


Publié le 21 septembre 2020