Thursday , October 21 2021

British companies fail to equip the workforce with the skills they need for the future London Business News


Businesses need to invest and focus on human skills in creativity, leadership and adaptability to better prepare the workforce for the future.

A survey of 1,246 business leaders and HR from 79 countries by PwC found that 87% of companies believe human skills are an important capability for the future, but only 33% have the talent practice that drives these skills. The same percentage uses data analytics to predict and monitor skills gaps in the world of work.

A separate employee study from PwC found that only 41% of employees in the UK believed that their employers provided the skills they needed to work in the future.

Alastair Woods, partner at PwC, commented:

"The HR Department must lead in growing and building the capabilities needed by tomorrow's workforce. The impact of automation and robotics over the next decade will mean some tasks disappear, but new activities will emerge that depend on unique human skills such as valuation, empathy, innovation. To prepare for this change, the HR team must develop a thorough understanding of future needs and place learning and development programs and other tools such as performance management to help and support this transition. "

The changing nature of work is accompanied by an increase in the number of contractors, freelancers and portfolio workers. The increasing number of partnerships between large organizations and smaller new companies provides access that is ready for innovation and talent on demand. Identifying where and how this flexible talent is involved will become increasingly important for organizations, but few are ready for this change. Only 8% of global respondents strongly agree that their organizations can engage easily with these valuable resources when needed.

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