Skills gaps. Automation. A shifting workforce. These aren’t distant issues—they’re shaping your business right now.

The need for new skills is more urgent than ever, and 94% of CEOs are feeling the pressure. But while many businesses recognize the problem, few are truly ready for the solution. Upskilling and reskilling at speed and scale aren’t just HR initiatives—they’re critical to future-proofing your workforce.

So, how do we close the gap?

The Skilling Crisis:

Right now,72% of large companies are struggling to find employees with the right skills. The result? Overworked staff, lower productivity, and even declines in service quality. In fact,55% of workers report increased workloads due to skills shortages, and 25% of companies have already seen drops in productivity.

Here’s the reality: the days of hiring your way out of skills gaps are over. Businesses need to take a strategic approach, embedding reskilling and upskilling into the core of their talent strategies.

Key Takeaways:

• 94% of CEOs agree: the need for new skills is urgent.
• 72% of large companies are struggling to find the right skills.
• 66% of executives are increasing investments in AI, but they need skilled workers to back it up.
• 20-25% of workers will be remote—reskilling for flexible work is critical.
• Focus on the five guideposts for skilling success: strategy, jobs, technology, talent, and people.

The 5 Guideposts to Skilling Success:

Here’s the good news: businesses that make skills a strategic priority are already seeing results. The five guideposts to skilling success can help you stay ahead:

1. Connect Skills to Strategy: Skilling initiatives should align with business priorities and long-term goals.
2. Connect Skills to Jobs: Focus on the most critical skills gaps impacting your business right now.
3. Connect Skills to Technology: Use AI-powered tools to dynamically manage and close skills gaps.
4. Connect Skills to Talent Processes: Integrate skilling into your hiring, retention, and performance strategies.
5. Connect Skills to People: Foster a culture of continuous learning—reskilling should be second nature.

The skills revolution isn’t coming—it’s here. If you want to stay competitive, it’s time to stop talking about skills and start investing in them.

#FutureOfWork #Upskilling #Reskilling #Leadership #AI #RemoteWork #WorkforceTransformation

Insights from The Conference Board: Skills 2024