Transforming principle definition9/1/2023 ![]() Finally, you must fill your enterprise with opportunities for continual self-renewal via modern learning strategies and digital technologies, so that becoming adept in new technologies is just part of everyday life.Ī workforce transformation brings all these elements together, oriented specifically to your organization. You need to be more creative in finding and onboarding people, including through acquisitions, partnerships, gig economy–style freelancing arrangements, and talent pools oriented to flex work. But you also need to rethink your jobs: redesign the workflow, combine some positions, add others, and probably eliminate some. This means expanding people’s capabilities and employability, often using adult learning and training tools, to fulfill the talent needs of a rapidly changing economy. Instead, companies must upskill their existing employees or members of their communities. There aren’t enough prospective recruits, and the expense would be enormous. ![]() Many business leaders realize that they can’t just hire the workforce they need. They also need people who can master softer skills, such as managing teams effectively, gaining trust, working across boundaries, or applying neuroscience findings to increase their own stature and influence. Just about everyone is looking for employees adept in robotic process automation, materials science, or simulations with machine learning that can predict outcomes and streamline processes. ![]() Energy, automotive, and industrial companies need team leaders who can manage interoperable platforms. Banks and insurance companies need data visualization experts. Retailers need interface designers who understand customer experience. In PwC’s 22nd Annual Global CEO Survey, 79 percent of chief executives around the world said that a lack of key skills threatens their business growth. Unfortunately, in nearly every industry, the best talent is in perilously short supply. As a recent PwC report to the T20 (pdf) summit meeting in May 2019 noted, workforce transformation is also closely linked to the productivity gains needed in both business and the public sector. CEOs of fast-moving organizations – enterprises with bold strategies, innovative cultures, inclusive workforces, and great expectations – need highly skilled people. The demand for a more talented workforce goes beyond adapting to the new digital world. Ideas should flow from all corners of the company, whether from full-time managers or a pool of gig workers who jump in when work heats up. All the while, they should keep their skills sharp with mobile apps and online self-taught courses. You want people who can command artificial intelligence, analyze data, invent and apply solutions on the fly, and slide effortlessly into new roles as needed. But the greatest challenge is not the tech itself: It’s developing a knowledgeable, strategically adept, cognitively flexible, and proficient workforce. It’s evolving so fast that your business constantly has to adapt. When you (or your board members) think about thriving in a digital world, you probably think first about technology. ![]()
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