The world of business is constantly changing, with technologies and innovations that disrupt entire industries and create new ones.
At the same time, the workforce itself is ever-changing. Because of technology, workers are more mobile and flexible. They want to work on projects that will challenge them, not just enable them to put in their hours at the end of the day with little or no change.
Global trends, such as digitalisation and automation, are likewise impacting the future of work. For some, this will be a welcome development in the workplace in terms of faster, more efficient processes, but for others this could mean a threat to job security.
What can companies do to remain competitive and attract the best talent?
One way for companies to stay ahead is by planning its workforce strategically and being prepared as change happens.
HR professionals know these complexities all too well. The future workforce needs to stay relevant, employable, and engaged. But how?
Here are three ways:
1. Address skill gaps
The first step is to acknowledge and identify the talent gaps within your company. While this may seem like an abstract endeavor at first, there are tools and methods available that HR practitioners can use to transform the workforce. These could be already within the organisation or through courses or learning materials that HR practitioners could access outside the company.
Next is to invest in creating or expanding training programs. Take note that this would entail getting the buy-in of top management. As noted in a Brookings article, employer leadership is a key component of addressing the skills gap in any organisation. Skills gap is defined in the article as the mismatch of skills needed by the employers and the skills that job seekers possess.
Leaders must be able to identify and communicate the skills the business needs and develop ways to recruit, train, and retain employees.
The article also stresses the need for creating “robust talent pipelines” which can be made possible through collaboration among businesses, the education sector, and government. Upskilling or re-skilling may be necessary depending on the changes within the organisation in response to changes in the business landscape.
For example, with more businesses leveraging cloud computing technology, there may be a need for upskilling so more workers can take part in this growing economy. The growth of e-commerce is also pushing business owners to re-think their business models and strategies, as well.
2. Build a workplace conducive for modern work
Workplaces are changing along with its people. With the use of digital tools, workers are able to accomplish tasks remotely. They are able to collaborate even when other teams are on the other side of the world. Offices are being redesigned to allow creativity to flourish.
As a business owner or HR professional, explore the ways in which the physical office contributes to the bigger goals of the company. The two can go hand in hand, especially with the evolving needs of the workforce. Discover how physical settings can affect employee engagement and collaboration by experimenting in your own organisation.
Building a digital workplace, for instance, will serve as an enabling environment for workers to thrive. Emerging technologies, such as extended reality, are finding applications in industries beyond gaming and entertainment.
Design thinking principles may also be helpful in supporting a better workplace experience for leaders and employees. A human-centred approach will allow businesses to create spaces that will encourage productivity, which, in turn, will positively impact the bottomline.
3. Identify the competencies needed for different roles
Workplace transformation efforts need to be guided by clear goals and a strategic framework. Identifying competencies required for the different roles in the company will help HR professionals to not only identify the appropriate learning programs for employees, but it will also guide recruitment efforts.
An article from SHRM suggests refocusing one’s recruitment mindset. It recommends giving more weight to the knowledge, skills, and abilities the position requires and whether the applicant possesses those qualities, rather than simply looking at age or from where the person graduated. Look for soft skills, such as drive, loyalty, creativity, and the willingness to learn, because these will endure in the automated future.
Planning for succession is also important to make sure that the business thrives even if your top talents leave or retire. Mentorship programs can be beneficial in this regard. As the SHRM article notes, older workers can be a valuable source of talent because of the skills they honed through decades of employment or further education.
One guiding principle for HR professionals is to manage the change through people-centred approaches. Making sure that talent building efforts are aligned with business goals will also prove to be beneficial in workforce transformation, not to mention knowing the right rewards and incentives to encourage workers to upskill or re-skill.
Harnessing a culture of continuous learning within the organisation will, likewise, contribute to building a future-ready workforce. After all, a high-quality workforce is a strong determinant of a company’s success.
There is no denying that technology and automation will impact the workforce of today. There are jobs that have already been replaced by machines, but then there are also those that were created as new industries thrived because of technology.
At the end of the day, it’s not just about protecting jobs, but the people. As PwC highlights in its report on the workforce of the future, organisations are responsible for protecting their talent by nurturing agility, adaptability, and re-skilling.
Apply these principles to your organisation today through SMU Academy’s Advanced Certificate in Future Workforce Architecture. The course equips HR professionals and business leaders with the skills to develop a knowledgeable, strategically adept, cognitively flexible, and proficient workforce. The modules are designed by SMU Academy together with Singapore's top professional associations in HR management— Institute of HR Professionals (IHRP) and Society of HR Management (SHRM).
Learn more about the programme and how you can become an architect of future workforce transformation.
