Your Company's Future Depends on Learning-Centric Talent Expansion
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The document discusses how organizations need a learning-centric approach to talent expansion to address a changing workforce landscape. Specifically, it notes that skill requirements are shifting, baby boomers are retiring in large numbers, and the available hiring pool is shrinking. To bridge this "skills gap", the document advocates for a talent strategy that integrates learning, talent management systems, and accessible on-demand content. It introduces a unified learning-centric talent expansion suite to deliver relevant learning experiences and help organizations adapt to changing needs.
Your Company's Future Depends on Learning-Centric Talent Expansion
- 1. © 2015 Skillsoft Ireland Limited© 2015 Skillsoft Ireland Limited Why Your Organization Needs Learning-Centric Talent Expansion
- 2. © 2015 Skillsoft Ireland Limited The world of work is CHANGING The way people work, where they work, and how they work are all going through a major transition. 2
- 3. © 2015 Skillsoft Ireland Limited 3 Skill requirements are SHIFTING 39% of employers report having difficulty filling jobs due to the lack of available skilled talent.1 1 https://hbr.org/2014/08/employers-arent-just-whining-the-skills-gap-is-real
- 4. © 2015 Skillsoft Ireland Limited 4 Baby Boomers are RETIRING Since 2011, approximately 10,000 Baby Boomers have turned 65 every day — and this will continue for the next 15 years until they all reach retirement age. Millennials will make up nearly half of the working population by 2020.
- 5. © 2015 Skillsoft Ireland Limited 5 Baby Boomers are RETIRING Since 2011, approximately 10,000 Baby Boomers have turned 65 every day — and this will continue for the next 15 years until they all reach retirement age. Millennials will make up nearly half of the working population by 2020. More than anything, Millennials want the opportunity to develop skills for the future.3 2 https://hbr.org/2010/05/mentoring-millennials
- 6. © 2015 Skillsoft Ireland Limited 6 The hiring pool is SHRINKING As unemployment goes down, the skilled labor pool is reduced. In fact, by the year 2020, there will be 85 million fewer skilled workers than businesses need.
- 7. © 2015 Skillsoft Ireland Limited 7 The hiring pool is SHRINKING As unemployment goes down, the skilled labor pool is reduced. In fact, by the year 2020, there will be 85 million fewer skilled workers than businesses need. That’s just 5 years from now.
- 8. © 2015 Skillsoft Ireland Limited 8 Anatomy of the Skills Gap Organizations need skilled workers, and over the next five years, the risk of not being able to find the right people will increase substantially.
- 9. © 2015 Skillsoft Ireland Limited 9 Anatomy of the Skills Gap Organizations need skilled workers, and over the next five years, the risk of not being able to find the right people will increase substantially. This is called the skills gap, and the combination of a shrinking talent pool and rapidly evolving skill requirements means you won’t be able to simply hire your way out of it.
- 10. © 2015 Skillsoft Ireland Limited 10 Anatomy of the Skills Gap This skills gap is an enormous risk to the continuity of business everywhere. It deprives organizations of the skilled talent they need and, perhaps more importantly, leaves a leadership gap as more experienced professionals leave or reduce their presence in the workforce.
- 11. © 2015 Skillsoft Ireland Limited 11 Anatomy of the Skills Gap So how do we build a bridge?
- 12. © 2015 Skillsoft Ireland Limited© 2015 Skillsoft Ireland Limited Bridging the Gap
- 13. © 2015 Skillsoft Ireland Limited 13 Bridging the Gap Fortunately, the desire to increase skills is universal for both employees and employers. The key to unlocking your full potential is a talent strategy that puts learning and people at the core. In fact, it’s the only track to a sustainable competitive advantage.
- 14. © 2015 Skillsoft Ireland Limited 14 Bridging the Gap In order to succeed in a people-centric organization, talent management, core HR, payroll, and other human capital and enterprise software systems need to come together with learning technology and content to change the way we guide our organizations forward.
- 15. © 2015 Skillsoft Ireland Limited 15 Bridging the Gap In order to succeed in a people-centric organization, talent management, core HR, payroll, and other human capital and enterprise software systems need to come together with learning technology and content to change the way we guide our organizations forward. An open learning and content platform at the center of your talent management ecosystem helps you know, grow, and engage your employees, wherever they are. And it’s one of the reasons Skillsoft and SumTotal came together.
- 16. © 2015 Skillsoft Ireland Limited© 2015 Skillsoft Ireland Limited Introducing the Learning-Centric Talent Expansion Suite
- 17. © 2015 Skillsoft Ireland Limited 17 Learning-Centric Talent Expansion Suite This convergence of talent, content, and learning in a single unified solution is critical.
- 18. © 2015 Skillsoft Ireland Limited 18 Learning-Centric Talent Expansion Suite Relevant content Employees need high-quality content that’s readily available and easily accessible when they need it, rather than content that they have to seek out — and that assumes they even know the content is there.
- 19. © 2015 Skillsoft Ireland Limited 19 Learning-Centric Talent Expansion Suite Consumption, on demand. People need information that’s accessible, where and when they need it — in enterprise applications, through mobile devices, and anywhere else they may be.
- 20. © 2015 Skillsoft Ireland Limited 20 Learning-Centric Talent Expansion Suite An engaging experience. Engagement and relevance should no longer be driven by an individual participating in a learning activity. Instead, they need to be driven by a solution that captures the actions of many users and then analyzes that data to build an intelligent solution that delivers in a contextual and predictive manner.
- 21. © 2015 Skillsoft Ireland Limited 21 Learning-Centric Talent Expansion Suite For example:
- 22. © 2015 Skillsoft Ireland Limited 22 Learning-Centric Talent Expansion Suite For example: Learning management allows learners to find the specific piece of content they need when and where they need it.
- 23. © 2015 Skillsoft Ireland Limited 23 Learning-Centric Talent Expansion Suite For example: Performance management can track when a person needs to increase their skills or competencies and presents the right learning assets to them.
- 24. © 2015 Skillsoft Ireland Limited 24 Learning-Centric Talent Expansion Suite For example: Succession management adds personalized content recommendations based on the career path an employee may be pursuing and the experience the employee has.
- 25. © 2015 Skillsoft Ireland Limited 25 Learning-Centric Talent Expansion Suite For example: Workforce management promotes the right learning content when a skill gap is discovered in an existing or new role.
- 26. © 2015 Skillsoft Ireland Limited 26 Learning-Centric Talent Expansion Suite For example: Recruiting management has the ability to discover if there is someone capable within the organization, as well as the ability to make better decisions about who to hire and when.
- 27. © 2015 Skillsoft Ireland Limited 27 Conclusion The ability to evolve to meet the changing needs of business is imperative for organizations that want to get ahead — and stay ahead — of the competition. To be effective going forward, talent management needs a radical, people- centric shift.
- 28. © 2015 Skillsoft Ireland Limited 28 Conclusion The ability to evolve to meet the changing needs of business is imperative for organizations that want to get ahead — and stay ahead — of the competition. To be effective going forward, talent management needs a radical, people- centric shift. Everyone wants to learn differently. Adaptive and continuous collaboration and learning are paramount in a world where shifts can happen in a matter of days instead of years. Organizations need to be ready with the talent strategy, processes, and technology necessary to be a leader for today… and tomorrow.
- 29. © 2015 Skillsoft Ireland Limited Think. Research. Contact us. Visit: www.skillsoft.com