Why it’s time to review your people capabilities
The success of any organisation hinges on its people. The skills, competencies, and overall potential of your workforce are collectively known as people capabilities — and they’re crucial for staying competitive and achieving growth. But when is the best time to review these capabilities?
For Moore Kingston Smith Senior HR Business Partner, Tina Homer, there’s no time like the present. In fact, carrying out regular reviews of your people capabilities is vital. Here, she shares why you shouldn’t wait for a crisis to review your workforce and invest in development and recruitment.
Reasons to review your people capabilities now
Make sure you can adapt to change
Organisations face constant change, whether that’s down to technological advances, shifting market dynamics, new regulations, or something completely unpredictable. That’s why it’s so important that your workforce that is both skilled and adaptable. By regularly reviewing your people capabilities, you’ll ensure your team can meet new challenges and foster innovation.
Navigate technological disruption
Developments like AI, automation and digital transformation are rapidly changing the skills that organisations need. Tasks that once required manual labour are now automated, for example, while new roles can demand new levels of digital proficiency and advanced technical skills.
Identifying skills gaps doesn’t have to mean redundancies and new recruits: once you’ve identified any skills gaps, you can implement training and development programs to address them. In fact, the World Economic Forum estimates that by 2025, 50% of all employees will need reskilling due to the adoption of new technologies. The good news? Companies that invest in reskilling can increase employee productivity by up to 12%.
Enhance talent retention and engagement
Do you know how satisfied your employees are? Carrying out a review of your people capabilities can help identify areas where they feel undervalued or underutilised.
According to LinkedIn’s 2023 Workplace Learning Report, 76% of Gen Z workers believe learning is the key to their success in their career. So, addressing any gaps in capabilities through development initiatives can be a great way to boost morale, improve job satisfaction and reduce turnover, as well as saving recruitment costs and keeping their knowledge in-house.
Ensure alignment with strategic goals
Making sure your people’s skills are in line with what your organisation is trying to achieve is key to long-term success. If you review your teams’ capabilities to make sure they match your business objectives, you’re more likely to be successful in facilitating your strategic plan. You’ll also highlight areas where additional resources or skills may be needed to meet those goals.
Stay competitive
It’s worth benchmarking your people and teams against industry standards and competitors. Not only will you identify strengths to leverage and weaknesses to address, but you’ll help maintain a competitive edge and drive business growth, too. In a crowded market, a highly skilled and capable workforce can set your organisation apart.
Prepare for the future
The future of work is unpredictable. An increase in remote working, flexible contracts and demographic shifts are all changing traditional employment models. Review your people capabilities now and you’ll be preparing your organisation to adapt — and thrive — in this evolving landscape.
As well as upskilling your current workforce, you might also want to rethink your recruitment strategies to attract the talent your organisation needs to be futureproof.
Do you need support with your people capabilities review?
Helping organisations review their people capabilities is one of the many consultancy services we offer. Get in touch and a member of the team will get back to you with how we can help.
