With growing concerns about future skills shortages, many organizations are adopting skills-based talent strategies. Research by Workday shows that only 54% of leaders understand their current workforce skills, revealing a gap in necessary competencies for success. Critical skill gaps include social skills like communication, resilience, and digital fluency. This shift focuses on individual capabilities rather than traditional credentials, with over half of firms already implementing this model. AI plays a significant role in facilitating these changes by personalizing development and enhancing decision-making, maintaining the importance of the human element in the workforce.
"AI is reshaping the workplace, but the human element has never been more essential," said Chris Ernst, chief learning officer at Workday, emphasizing the need for balancing technology with human skills.
"More than half of organizations worldwide are already switching to a skills-based talent model, with another 23% planning to start this year," indicating a significant shift in hiring practices.
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