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Recovery Playbook

your talent challenges have changed

2020 has forced every business to rethink Talent. Talencity’s Talent Recovery Playbook is a resource guide to you in pivoting, shifting or re-inventing your talent strategy.

Each week for 12-weeks, a new resource will be launched.

Reskilling your Talent

Rapid changes in business environment and technologies has made reskilling and upskilling a constant necessity for companies.

Rapid changes in the business environment and technologies have been disrupting jobs and required skills. In fact, 43% of organizations have already been experiencing skills gaps 1. The global pandemic has no doubt further widened this gap. The change in business climate requires realigning our talent and workforce to meet new organizational goals.

To successfully close these gaps would rely on your ability to realign the skill set of your talent pool, identify skills gaps and mitigation strategies, while creating a positive experience for your employees to solidify their engagement.

This will be critical for your ability to adapt to abrupt changes in the market while building a resilient organization for long term success and growth.

Why is Skills Realignment so critical?

Skills realignment is more important than ever, expedited by the “distance economy” brought on by the global pandemic leading to accelerated workforce transformation.

Changes in business priorities has also led to changes in workflow. Jobs have been eliminated, added and combined. Business leaders are realizing that hiring might not always be the best way forward. Supply for certain skill sets just does not suffice, and the recruitment costs could be sizable for these highly demanded skills. Investing in reskilling and upskilling your existing talent pool not only will ensure you close this gap, you will also build employee engagement and loyalty. Continuous learning will also allow your employees to build cognitive skills which is critical to continue to drive your business forward.

The Process of Skills Realignment

While no two organizations are in exactly the same circumstances, the general process of skills alignment follow the same framework:

One of the most common pitfalls for organizations is in trying to perfect this process. While some detailed and careful planning are required, no one could actually know evaluate the process until after execution. You can always go back to fine-tune later. Any unnecessary delay in giving these critical skills to your talent will only postpone the achievement of your business objectives.

Making Skills Realignment a Positive Experience

Open and honest communication is vital to make skills realignment a positive experience. Changes can be difficult and highly personal. Verbalize with conviction the desired business outcomes – boldly and clearly – to all stakeholders. For your employees to embrace these changes fully, they must be excited about the future. In particular, they need to see how these changes would allow them to help achieve the greater purpose of the organization.

Admit it could be difficult. However, remind your employees about why you are doing it. You want to build on and invest in your current talent pool, while ensuring organizational success.

Lead by Example. This initiative must be led and fully supported by the leader of the organization and the entire executive team, not just HR. You need to commit to an ongoing training budget. Protect it. Cutting/reducing this budget is really delaying the cost while making your business less competitive.

Use it as a genuine opportunity to improve yourself and your team. As leaders of the organization, you should take part in upskilling too. Be available to train others whenever possible.

Final Thought

Constant reskilling and upskilling is necessary to keep up with the rapid pace of change. Your talent has an enormous influence over the success of your business. Offering the right training and nurturing their newly required skills will be a long-term benefit for your business.

Realignment can be a difficult process for the company, business leaders and employees alike. However, the benefits outweigh the transition process. If done correctly, realignment builds a more resilient team, increases productivity, and shows commitment to your employees.

By building the self-confidence and resilience of your team, not only will it further drive your business results, your team will be very adaptive to changes in the future and they will stay loyal to you through other crises in the future. Remember what Richard Branson has said so well: “Train people well enough so they can leave, treat them well enough so they don’t want to.”