Workforce Transformations Insights – Jan 2020
Stay informed with our perspective on workforce transformations trends, thought-provoking insights and expert analysis that help companies create opportunity.
Think about talent in a whole new way.
The new year will bring profound changes to the way we work. Companies who see change as an opportunity will need to adopt new approaches to talent management in order to actually seize the opportunities.Ranjit de Sousa, LHH President
In this issue, we spoke to Ian Williamson, Dean of Victoria University Business School in New Zealand while we were at the World Business Forum in NYC. Ian talked about new ways to invest in and value employees. We also sat down with Simon Gibertoni, CEO at Clinique la Prairie, who shared the challenges he faces in exporting an experience vs. a product as his company expands globally. We dug into the strategies that successful companies employ to build the workforce of the future. What emerged were the top four trends in workforce transformation we expect to see in 2020.
The most successful companies will start viewing human capital as a renewable resource, rather than something that can be discarded and replaced on a whim, he said. Like an asset, Williamson said, labor is something that must be managed to be sustainable and to provide the greatest value possible.
Far too many employers are still trapped in a cycle of firing employees whose skills are no longer needed and then going out to hire people with new skills that will drive future growth, Williamson said.
The global skills shortage makes this traditional workforce strategy untenable, he added, because there just aren’t enough skilled workers to go
around. Williamson noted that by some estimates, global IT companies need more than 85 million skilled workers to fill immediate openings.