Future of Work: Why Skills are the New Currency of the Workforce?
Traditionally , most organizations have been ”role based”.
Example: Employees are hired for specific roles outlined in job descriptions And work is divided based on hierarchical structures and rigid role definitions.
Organizations are shifting to a skills-based approach
So, what does a SKILLS-BASED organization look like?
Skills-based organization assigns work based on people’s skills, competencies &unique attributes, rather than by traditional job roles. (Deloitte 2022)
Skills-based organizations break downroles & jobs into smaller parts that describe the “work to be done. Then they understand the skills that are needed to do each part of the job & assign them to employees with those skills. (AIHR)
Benefits of being “SKILLS-BASED”
More Agile : Organizations with askills-basedapproach canquickly adapt to market changes,understanding what skills are needed forthe new project, andinternallyredeploying talent to the most essentialwork.
Aligning tasks with employees’ skills, & strengths,improves theoutcomes and organizations can achieve faster and higher-quality results. (Beamery)
Better Talent Retention : Organizations that recognize and utilize employees’ skills effectively tend to have higher jobsatisfaction & lowerturnover rates. Whenemployees feel theirskills are valued, theyare more likely to remain with thecompany.
HOW TO START YOUR JOURNEY TO BE A SKILLS BASED ORGANISATION?
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