The workforce plans of most organizations are changing rapidly. Skills are now required in fields such as robotics, machine learning and business analytics. A report by the World Economic Forum (WEF) clearly states that by 2020, a third of the most important jobs of today will no longer retain their premier importance. Technology is also changing the landscape immensely with business-critical roles getting reshaped. An example of this is the field of insurance where actuaries used to perform the job of estimating underwriting risks for various customer segments. Now that job is expected of data scientists. While some actuaries could be refitted as data scientists, the vast majority will need to be shaped through fresh talent recruitment. While a lot of companies have been slow to react, some steps have been outlined that the leading ones have taken to ride through this disruption. First of all, the company’s strategy needs to be studied to identify the core roles that will need to be filled in the future and what kind of skills and capabilities will be relevant for that. Next up, around this the existing personnel’s skill sets will need to be evaluated to assess gaps that will need to be rectified. Finally, companies must aggressively seek out fresh talent or develop from existing pool in the gap areas without undue delay.


Uploaded Date:18 November 2017

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