Organizations now compete globally for scarce technical and professional skills. How can they locate and develop this talent when it takes years to develop expertise?
Organizations around the world are experiencing disruptive change in the demand for critical skills. Not only are specialized skills increasingly scarce, but they are also unevenly distributed across the global economy.
As a result, companies are often looking in the wrong places when it comes to building workforce capabilities—and coming up short. In fact, according to our global survey, executives rank building workforce capability as one of the top three challenges facing their organization over the next 18 months.
This trend helps explain the “talent paradox” that has emerged in recent years: High unemployment rates point to a surplus of labor, yet companies report great difficulty finding and keeping the skills most important for their growth. (Read more @ The quest for workforce capability).