The strategic underpinnings of most companies’ workforce plans should change dramatically as a result of technological innovation. Digital transformation, the industrial internet, advanced analytics, artificial intelligence, robotics, machine learning, and a plethora of other innovations are fundamentally changing the nature of work. Machine learning, for example, may not eliminate many jobs in their entirety. But it will impact the way many jobs are performed, requiring new skills and making many existing skills less valuable. The World Economic Forum predicts that “by 2020, more than a third of the desired core skill sets of most occupations will be comprised of skills that are not yet considered crucial to the job today.”
How Leading Companies Build the Workforces They Need to Stay Ahead
Digital transformation, the industrial Internet, advanced analytics, artificial intelligence, robotics, machine learning and a plethora of other innovations are fundamentally changing the nature of work. The impact of technology will be felt over time, and not overnight, creating the illusion there is time to react. But building a winning workforce for tomorrow starts today. The best-performing companies are already taking steps to attract new talent and widen their lead over rivals. They delineate the skills and capabilities needed to win in the future, identify gaps, and aggressively fill the gaps. Even as strategies, business models, and needed skills and capabilities continue to change as new technologies emerge, successful companies don’t wait to upgrade their workforce.