New technologies, socio-economic developments, shifting expectations of workers and disruptive events like COVID, are placing the world of work in a state of constant flux. Without the right skills, workers, in particular those from disadvantaged groups (women, young, ethnic minorities, low-skilled workers), will find it more and more difficult to find the work they need to earn a living for themselves and their families, fulfill their aspirations and ultimately live well. Even before COVID, business leaders were concerned about finding, keeping, and developing the talent needed for the modern world, and as we begin to recover from the pandemic, many businesses will lack the relevant skills needed to succeed in the new world of work. This brings Human Resource (HR) executives into the ‘eye of the storm’, reinforcing their strategic role in ensuring business continuity, resilience and growth while contributing to a future where both business and society don’t just react and adapt to disruption, but thrive.
As part of its Future of Work project, WBCSD partnered with GAN Global to understand why business action on skills development is important not just to deliver on business objectives, but also to achieve a more cohesive and equal society. WBCSD and GAN Global explored which types of corporate skills development strategies and pipelines organizations usually rely on, as well as which ones don’t feature as prominently in their workforce strategies, and set out to help companies assess how to choose the most appropriate strategy to respond to business and societal needs.