CEOs face a dilemma: too many open jobs, not enough right workers. Solution: skills-first hiring. Skills-first approach helps bridge talent and opportunity gap, challenges degree filtering, and benefits employees and employers. AI's impact on labor market and need for skills. Importance of cultural shift to prioritize skills and new skill development. Unlocking hidden talent and embracing skills-based hiring benefits large and small businesses, creates opportunities for non-traditional backgrounds.
Skills-based hiring is a game-changing approach for businesses to identify and utilize untapped talent.
CEOs should focus on building a skills-first culture to retain talent and address workers' concerns for fair pay and meaningful work.
Deep dives
The Importance of Skills-Based Hiring
Skills-based hiring is highlighted as a better way to assess potential and applicants in order to build a successful business. CEOs emphasize the demand for human skills such as problem-solving, critical thinking, collaboration, and leadership. These skills are difficult to train and find. The focus should be on seeing skills not as a change to react to, but as tools to adapt to changes in the workforce.
The Concerns and Needs of the Workforce
CEOs are concerned about the need for a skilled workforce to drive organizational transformation. Additionally, workers desire fair pay, meaningful work, investment in their skilling, and inclusive leadership. Employers face the challenge of addressing these concerns to retain talent and avoid losing workers to other organizations.
Implementing a Skills-First Approach
LinkedIn's initiative, the Opportunity Project, advocates for skills-based hiring as a means to create economic opportunity for all individuals. Companies should focus on building a skills-first culture, assessing the skills landscape, tapping into internal talent, and creating opportunities for skills development. While there may be challenges in shifting towards a skills-first approach, it is crucial for organizations to reduce inequities and embrace continuous upskilling.
Today’s CEOs face a daunting dilemma: too many open jobs, and not enough of the right workers to fill them. In this episode, hosts Lizzie and Ayesha are joined by LinkedIn VP Aneesh Raman and PwC’s Global Workforce Leader, Peter Brown, who suggest an innovative solution to workforce gaps: skills-first hiring. By focusing on skills in addition to employment history and academic credentials, Aneesh and Peter reveal a game-changing approach for businesses of all sizes to identify and utilize their untapped talent—plus practical starting points for implementation.
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