Where there may be a large number of people searching for jobs, the reality is the calibre of candidates is decreasing and roles and expectations are becoming more advanced.
So what is the solution?
Easy – upskill and invest in your existing workforce. Something that has been a focus of successful organisations for many years.
According to HRMAsia, “HR and business leaders need to proactively manage the demographic change of their workforce by – systematically and intentionally – upskilling their workforce urgently before we reach a global talent scarcity crisis.”
Some organisations are already facing talent issues as they failed to invest in their people and are now exposed with significant skills shortages that are impacting their financial returns.
Proactive organisations have a clearly defined succession plan for all critical roles within the company documenting successors, times frames for succession, skills gaps and development needs.
When this is done, we move one step closer to being able to respond quickly to business needs by having the right people with the right competencies doing the right things at the right time.
