(Newswire.net — March 13, 2023) — More than 60% of a company’s future roles can be filled by current employees, assuming that adequate programs are in place. – Harvard Business Review
This reveals that with the proper training and reskilling opportunities, most future roles can be undertaken by their existing talent pipeline instead of resorting to external hiring.
In addition, conditions like technological disruptions, market volatility, globalization, etc., have led to the emergence of new skill requirements and roles in organizations. Therefore, future-proofing employees help protect the business from risks, prevent skill obsolescence, and capitalize on better opportunities.
This article outlines the best ways to future-proof the workforce and how SAVIOM can help organizations. Let’s begin!
2. Why is future-proofing the workforce important?
Future Proofing the workforce refers to the strategies taken by organizations to prepare their employees for changes and advancements in technology, work processes, and job roles so that they remain relevant and employable in the future.
It involves investing in employee training and development, nurturing a culture of learning and creativity, and encouraging employees to acquire new skills and competencies continuously. This will help resources stay up to date with emerging technologies and trends and enable organizations to eliminate skill obsolescence.
When organizations invest in the professional development of the workforce and offer opportunities for their growth, it improves their engagement and motivation. This, in turn, boosts their productivity and drives innovation. Furthermore, futureproofing helps companies remain competitive and agile in the face of technological and economic disruption.
Now that the significance of future-proofing the workforce is known, listed below are some ways to future-proof.
3. Best practices to future-proof the workforce
As employees are a critical investment and a driving force for success, organizations must implement specific measures to ensure workforce development.
Here are some of the effective ways to future-proof them:
3.1 Evaluate future skill requirements and existing capabilities
Technological development has boosted the demand for new skills in every industry. Hence, the first step in future-proofing is assessing upcoming skill demands. Based on this, managers can look into their current capabilities and identify the gaps. Accordingly, they can implement measures to have the right skill sets before the project starts.
For instance, a pipeline construction project requires two Civil Engineers with Revit and Sketch Pro skills. First, the managers will look into the internal channels to find resources with matching skills. Then, if the skill sets are unavailable or there are partially matching skills, managers can implement suitable resourcing measures. This way, they can eliminate the last-minute hiring of competent resources and help build a workforce with in-demand skills.
3.2 Formulate a training/upskilling calendar
Once the skill gaps are evaluated, the managers must formulate a training calendar including timelines, budget, competencies, proficiency levels, and interests. Additionally, it should also include the methods and materials required for training. Moreover, managers must clearly communicate the training objectives to the resources and ensure the training documents and materials align with the roles and the demand.
For example, a pipeline project requires five content writers with video scripting and SEO skills. If the resources don’t have the necessary SEO skills, managers can create an upskilling calendar to prepare them for the upcoming project. In this way, managers can ensure the skills of the resources are diversified.
3.3 Provide job rotation and cross-departmental opportunities
Job rotation and cross-departmental opportunities can help future-proof the workforce by providing employees with diverse experiences and skills that can prepare them for changes and challenges in the industry. In this method, employees are alternated between departments and given short assignments to work on other than their primary roles.
For example, a marketing employee can be switched to a sales role for a short period to learn about the different aspects of the business. This can include market research, understanding product development, or gaining a broader perspective on the company’s objectives. These opportunities will help employees enhance their knowledge and build secondary skills that enable them to perform better.
3.4 Maintain a balanced mix of permanent and contingent workforce
One of the ways to future-proof is to have the right blend of the permanent and on-demand workforce. Leveraging contingent employees enables organizations to access specialized skill sets which may not be available within the organization. Further, companies can save on overhead costs as they are appointed for short assignments and are not on the company’s payroll.
This also helps organizations mitigate risks associated with over-reliance on either permanent or contingent workforce type. Hence, a diversified workforce will foster a culture of innovation and creativity, adapt to market changes quickly, and help to deliver projects successfully.
3.5 Implement multi-skill training programs
In today’s tech-driven world, multi-skilling will be beneficial for organizations to make their workforce future-ready. It helps firms meet future project requirements and equip their employees with in-demand skills. For this, they can create a training plan that aligns with the company’s strategic objectives and IDP (Individual Development Plan).
Furthermore, managers can facilitate L&D methods such as peer-to-peer coaching, online courses, blended learning, seminars, and mentoring to improve the resources’ professional growth. By investing in these programs, employers can ensure that their workforce remains competitive and adaptable in an ever-changing global market.
3.6 Facilitate succession planning for critical roles
According to a survey, retirement in the US grew to 19.3% in 2021, and the number will continue to rise.
These statistics show that organizations must take action to prepare their workforce to take up critical roles as a part of succession planning. Since experienced employees are invaluable assets possessing knowledge critical to the company, their exit will jeopardize the success of projects.
Hence, managers must gain visibility into the resources’ competencies and capabilities and identify the best talent to be trained into future leaders. Moreover, when employees are given opportunities to advance in their careers, it will increase their engagement, productivity, and performance. This way, succession planning helps organizations build a robust talent pipeline.
3.7 Promote on-the-job training and shadowing opportunities
When organizations have employees whose competencies partially align with the required skill set matching skill sets, they can facilitate on-the-job training and shadowing opportunities for employees to gain hands-on experience. In this method, employees observe and follow their experienced peers in a given role.
For instance, a new joiner in a company will shadow their senior colleagues to understand the process and the tasks to be performed and get suggestions and feedback regularly. This way, the resources can learn the process quickly and improve their skills. Additionally, it promotes employee career growth, minimizes training costs, and helps firms retain top talent.
Having understood the effective methods to future-proof the workforce, let’s see how resource management software can help.
4. How can advanced resource management software help future-proof the workforce?
Organizations must ensure that their employees are well-equipped with advanced skills to meet the evolving skill demands. Hence, Saviom’s robust resource management software can help businesses to effectively future-proof their workforce.
Let’s see how:
The tool provides 360-degree visibility into resource-related information such as skills, competencies, availability, and other parameters. Accordingly, managers can personalize IDPs and develop an effective training strategy.
Moreover, with the capacity vs. demand reports, managers can identify the skill gaps and implement resourcing measures like training, upskilling, etc. Furthermore, it helps managers create a balanced mix of a permanent or contingent workforce.
Moreover, the training scheduling solution will enable managers to gain complete visibility of the resources’ booking and accordingly create training schedules to prevent burnout.
This is how advanced software can help organizations future-proof their workforce.
5. Final thoughts
Future Proofing is essential to meet your business’s changing needs and ensure your organization’s long-term success. Therefore, combining the above-mentioned best practices with resource management software will help organizations stay sustainable and profitable in the long haul. This will also enhance the productivity of your workforce and help increase retention rates.