Learning is the new earning

Jun 29 2021 · Skills Management, Uncategorized

Written by: Sofie Murphy

This does not come as a surprise. What would all companies be if they would not work with continuous development? The continuous development of skills is crucial for success. However, many lack information about their skill supply, which skills they need to develop and how the should approach up-skilling. 

Skills are the absolute success factors for profitability and a healthy growth rate. But did you know that your skill supply has an approximate best before date of three years?

We at PeopleProvide work actively with business and sustainable HR. We believe that business-driven HR and skills development are fundamental to achieving good results. How can you influence and improve the skills development within your company?

We work with many companies that have good intentions, and that want to work strategically with the skill supply. But skills are difficult to measure. There is no general ROI, but everyone knows that skills development is important.

With an approximate best before date,  is there a good recipe for constant “fresh produce”?

Half lack an active plan

PeopleProvide conducted a competency survey during the winter of 2021 with hundreds of respondents (CEOs and HR managers). As many as 90 percent of the respondents believe that skills development is a key to the company’s growth, but less than half have an active plan for strategic skills development. We summarize our “takes” on trends that have emerged from the survey, and that we have seen amongst our customers. We hope that this will inspire you to take your strategy one step further.

Skills development and business goals

To keep the competence up to date, it is important to have a clear direction for your business goals, concretized in the competencies and a strategic plan for implementation, in the short and long term. Then you get a clear overview of relevant and desired skills.

GAP analysis and skills inventory

This is a prerequisite for you to be able to implement the strategic plan with associated activities. To find out your current situation, implementation or a continuous process for skills inventory is required. Our survey shows that half of the companies have gathered information about the internal skills in a structured skill inventory, whilst the rest lack knowledge of what skills they have. Without information about what you have, you will have a difficult time identifying what you need,

With a complete skill inventory inventory, you get a clear overview of the skill gap. The GAP analysis provides you with a guideline for an implementation plan. Can you develop the skills yourself? Can you acquire them through recruitment? Or is the competence in-house and only needs to be distributed to more employees?

Create a learning culture

Do you have the right conditions and the right basis for learning within your organization? Do you prioritize competence development? Do you set aside time for the effect of learning?

A prerequisite for success is to create a learning culture with leaders that encourage self-ownership amongst employees. Invests in competence development and encourage employees to take full control of their own competence development. The competence then becomes an ongoing process that results in committed employees and profitable companies.

Do you want to read the report? Visit our website!

Want to hear more about how you can work with the prerequisites for the implementation of a competence plan within your company? Feel free to email me – anna@peopleprovide.se

Corporate Communication & Marketing

Corporate Communication & Marketing

Sofie joined the Cinode team in the spring of 2021 and works with corporate communication and marketing. She has previous experience in prop-tech and startups, and is passionate about business development.

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