Lowering the Talent Bar: 78% of Organizations Forced to Modify Job Requirements Due to Lack of Skills
2024年9月17日 - 11:08PM
ビジネスワイヤ(英語)
Betterworks’ original research uncovers the
critical need for strategic upskilling and verifiable skills data
in today’s talent landscape.
Betterworks, the leading performance management software
company, today announced compelling new survey results revealing
that while many organizations are taking steps to assess and
develop employee skills, the talent shortage persists and
jeopardizes the ability of organizations to execute strategic
initiatives. Skill Fitness: Powering the Skills-Based Organization
with the Right Data, which contains findings from over 1,100 HR
leaders and managers in the US, confirms that 8 in 10 organizations
have lowered hiring standards because they cannot find candidates
with the right skills.
Companies are challenged to find both best-fit outside
candidates and identify and cultivate existing talent.
Concurrently, technological advancements are rapidly driving demand
for new skills. Demographic shifts — the wave of baby boomer
retirements and the influx of Gen Z into the workforce —
contribute, resulting in a “perfect storm” skills shortage. Without
the right skills in their workforce, companies are unable to
transform to keep pace with change, let alone innovate to stay
ahead.
"Accurately identifying and cultivating skills is the
cornerstone of a growing organization, yet our research reveals
shortcomings in how well organizations assess the state of their
workforce," said Doug Dennerline, CEO of Betterworks. "Every
organization wants to unlock the full potential of their people,
and that starts with understanding their skills — the ones they
have and are developing, and hidden and adjacent skills.
“To truly capitalize on their workforce's potential, companies
must focus on enabling managers to verify employees’ skills with
up-to-date data and use individualized employee skilling plans to
connect the skills needed to ones under development,” Dennerline
added. “AI-assisted skill identification and validation can help
organizations track skills across their workforce, while supporting
individual skill development.”
"Organizations are increasingly recognizing the importance of
skills discussions in performance management, but the data often
becomes outdated due to infrequent reviews," said Cheryl Johnson,
Betterworks Chief Product and Technology Officer. ”By embracing
continuous performance management and integrating AI to capture
insights from reviews, feedback, and goals data, businesses can
keep skills data up-to-date and empower managers to drive employee
development and performance with accuracy.”
Key findings highlight the need for cleaner, up-to-date skills
data and AI-powered mechanisms to align talent development with
strategic goals, ultimately uncovering hidden skills and enhancing
internal talent pipelines:
- 98% believe verified skills data – proof of skills
through digital certification or badging, assessments, tests, or
review of past work and accomplishments— is essential for
identifying hidden talent.
- Nearly 7 in 10 use performance evaluations for measuring
skills and competencies; but over half are doing those
assessments only 1-2x per year
- 74% believe adding verified skills data into performance
processes could improve internal mobility.
- 1 in 3 employees receive occasional or no manager
guidance for skills development.
- No.1 barrier to skill development is lack of time: 44% of
employees don’t have enough time to develop their skills on the
job, even though “setting aside time for employee training”
ranked first or second in importance by companies of nearly every
size.
A skills-based approach that is built on a foundation of
performance data is no longer optional, but essential. As
organizations face rapid technological changes, evolving market
demands, and intense competition for talent, HR leaders are
increasingly aware that a robust skills-driven model is critical
for long-term success. While companies invest heavily in recruiting
and talent management processes, the foundation remains weak
without up-to-date, accurate, and verifiable skills data.
This data is essential for internal skill-building efforts. By
effectively integrating talent development data with learning and
development initiatives, organizations can reveal hidden skills,
strengthen their internal talent pipeline, and more efficiently
achieve their strategic goals. For a deeper dive into these
insights and actionable strategies to address the skills shortage,
download the full report here.
To address skills data gaps and verifiability, Betterworks will
soon launch its Talent Profiles for employee skills tracking and
development. Talent Profiles will leverage AI technology to extract
skills data from performance reviews, peer feedback, goals, and
HRIS or talent marketplaces to create a verifiable skills
inventory, providing companies with transparency into the skills
they have and those under development.
This feature was recently recognized by HR Executive and the HR
Technology Conference & Exposition as a "Top HR Product of
2024.” Learn more about the honor here.
About Betterworks
Founded in 2013, Betterworks develops best-in-class performance
management solutions that enable exceptional results and put
employee experience at the heart of how companies align, motivate,
retain, and develop their people. Unlike monolithic legacy HR
technology, Betterworks’ lightweight and enterprise-ready SaaS
solutions for check-ins, feedback, employee engagement, and
recognition are built to scale for businesses of all sizes. Our
customers’ employees are proven more engaged and satisfied in their
roles, which is why industry leaders like Colgate-Palmolive,
Intuit, Freddie Mac, Asurion, Udemy, Vertiv, HCSC, and the
University of Phoenix rely on Betterworks to manage and enable
performance. Betterworks is backed by Kleiner Perkins, Emergence
Capital, and John Doerr.
For more information, please visit www.betterworks.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240917676502/en/
Carole Barrow, Bospar PR prforbetterworks@bospar.com