Advantages and Challenges of the Skills-Based Approach to HCM Strategy
Organizational leaders require an agile approach to navigate external disruptions, including mitigating existing labor shortages and expanding the available pool of talent to meet business priorities. A skills-based approach to human capital practices allows for a more dynamic, nimble, and effective way to connect the work to workers, provide targeted upskilling and reskilling opportunities, and mobilize talent to meet the most critical business needs. For this briefing, we explore why the shift to a skills-based approach to human capital is occurring, when it adds the most value to the business, and what factors should be considered to successfully make this significant change. In addition, we show how critical it is for employees to adopt skills-driven solutions.
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