Adapting L&D for the Future: Navigating Through Disruption
Learning Solutions Team
There are very few world events in our collective memory that have resulted in tectonic shifts in how we live, communicate, and conduct our businesses. The unforeseen global standstill in 2020, brought about by the pandemic, has significantly altered our outlook towards what lies ahead: an unpredictable future. The sudden surge of widespread application of Artificial Intelligence (AI) enabled capabilities, since 2022, has added a new lens with which we now have to look into the distant future. The impact is felt across businesses large and small alike, globally.
As stakeholders in the global economy, we must take a moment to reflect on the disruptions around us, filter out the irrelevant, and focus on what matters most. Here are three significant disruptions that Learning and Development (L&D) and Human Resources (HR) professionals should be focusing on.
(This article is an excerpt from the eBook, Disruption-ready L&D: Ramp to Resilience. Download the eBook for a detailed read.)
In the face of these challenges, it’s crucial for organizations to reevaluate their talent management strategies. Questions about the changes an organization has undergone and its impact on job roles, and the new skill requirements are essential to navigate the current landscape.
The concept of “the war for talent,” coined by McKinsey strategist Steven Hankin in 1997, is more relevant than ever. Addressing the current challenges boils down to three fundamental elements: Skills, Capabilities, and Competencies. It’s vital to focus on these basics to chart the next steps.
Organizations should ask targeted questions about operational and non-operational skills and desired competencies. Developing a skills matrix and a competency framework, though daunting, can save significant management time and resources in adapting to new changes.
Senior executives need to ensure their teams are competent and equipped with necessary skills to stay competitive. A clear skills taxonomy and competency framework provide measurable business value and aid in management decision-making. Additionally, in the digital age, employees are eager to learn and improve their skillsets. Focusing on talent retention is crucial, as the cost of replacement is high and poses a risk to the organization’s bottom line.
In this era of rapid change, focusing on skills, capabilities, and competencies is essential for organizations to remain competitive and future ready. By asking the right questions and going back to the basics, companies can navigate the complexities of today’s business environment and prepare for an unpredictable future.
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