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Companies can win the war for skills in a world of skills shortages if they consider ongoing industry trends and best practices, such as training to retain, listening and learning and use the power of purpose.
In Sub-Saharan Africa, 45% of CEOs and 52% globally believe that skills shortages will affect their profitability over the next 10 years. South African businesses lost over R16 billion last year to replace lost skills due to staff turnover that was higher than ever.
It is clear that the war for skills is now more critical than ever, says Sandra Botha, global HR auditor at Top Employers Institute.
“Recruiting and replacing employees is more expensive than retaining talent. It is therefore essential for companies operating in the current economic climate to consider how they can reduce staff turnover and this starts with people practices.”
However, people practices are constantly evolving and what might have worked yesterday may not work today or in the future, she says.
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“In the post-pandemic world, employees had a chance to reflect on what truly matters to them and therefore, to attract, grow and retain the very best talent, employers must now work more closely than ever with their people to personalise their everyday experiences at work, including learning and career development.”
Botha says while many organisations offer a wide range of resources to help staff develop the competencies and skills needed for the future, personalisation ensures their successful uptake.
Ideally, this should entail the provision of online self-managed resources, as well as in-person support.
“The balance between both resource types is proving to be the most effective and generates the best experiences.”
Among some of the world’s top-ranked employers, 90% use personalised learning portals, 62% provide mentoring and coaching and 43% enlist the services of a career counsellor to ensure that all employees receive personalised advice on their next career steps.
Mvuyi Mntwapi from Unilever, which was named the Top Employer in Africa earlier this year, explains that the company aims to equip its employees with skills of the future and does so by supporting them to proactively develop individualised Future-Fit Plans.
“This helps to guide employees on their career path, as well as identify and develop the skills they will need to succeed. This might involve enhancing their skills for their current role (upskilling), training to move to a different role within the company (reskilling) or preparing for careers and opportunities beyond our business.”
At Unilever employees select the skills they wish to improve upon while the company facilitates this in a variety of ways, including mentorship from leaders across the business, instructor-led training and company-funded external certifications.
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“Business leaders must think simultaneously about long-term horizons while also analysing information and acting decisively in the short-term to thrive. They can do this by continuously listening to the internal and external environment to detect the skills needed now and in the future from a strategic perspective,” Botha says.
Mntwapi says now is the time to reset jobs by re-imagining the working landscape.
“This not only means imagining what the world of work might look like in 10 and 20 years, but what we want it to look like — which is why we involve our employees as part of our solutions from the outset, as opposed to seeing them as a problem to be solved.”
When organisations employ active, intentional and continuous listening, this not only helps them ascertain whether they are on the right track in terms of developing the present and future skills they require, it also provides employees with direction for their professional development, Botha says.
“Yet only 44% of employers have an employee listening strategy in place.”
Businesses must understand it is not enough to get feedback once a year through an employee engagement survey.
“They should rather use clearly defined channels at specific intervals throughout the year to gather insights and feedback without over-burdening the team and avoiding survey fatigue. People from all areas of the company should also be included,” Botha says.
“Providing a variety of channels and opportunities for staff to provide feedback and acting on this input, will make them feel valued and that their opinion matters. This not only increases productivity levels and overall engagement, but also converts employees into company brand ambassadors, advocating for the benefits of working for the organisation.”
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Unilever’s internal surveys indicated that the organisation’s commitment to purposeful business is a key factor in why high-performing people stay with the company, Botha says.
“This is something we have seen amongst highly rated employers. Those firms wanting to not only retain but get the most out of their people, must have their commitment to making a positive impact as the North Star guiding their people practices.”
Botha says this “lived purpose” must come straight from the heart of all of the employees, from the C-suite to more junior staff members.
“Nowadays, people want to be part of an organisation that aligns with their own personal views and purpose. They want to be able to make an emotional connection with their daily work.”
She warns that with the cost of doing business in South Africa skyrocketing, organisations will no longer be able to afford to lose billions as a result of skills losses.
“Therefore, how they arm themselves now in the war for talent will go a long way towards their survival in the future.”
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