The disruption of the COVID-19 pandemic has led to a new willingness to consider how to redesign work around workers’ individual needs and circumstances. Companies such as IBM, Cisco, Google, Unilever, and Schneider Electric are leading the way in transitioning to a skills-based approach to talent development. This approach is designed to address skills gaps through upskilling and reskilling existing workforces; building new, future-focused skills; and tapping into contingent workers for specialized projects or tasks.
Companies whose positions necessitate rapidly changing skills may find job frameworks too restrictive. Estimates suggest that by 2025, 50 percent of the workforce will require further development and 40 percent of current workers’ core competencies will need altering during this time frame. For businesses to remain competitive, they need to provide their employees with more adaptable employment options and career paths that fit their individual ambitions, interests, and objectives in today’s job market.