At the 2024 HR Tech conference, Mercer’s Ravin Jesuthasan delivered an opening keynote on the evolving nature of the global workforce, emphasizing that skills will be the currency of work in the future.
After his keynote, Jesuthasan sat down with HR Executive’s HR Tech Editor Jill Barth for an exclusive video interview. He noted that there has been so much discussion about the importance of skills that it has led some to peg the topic as overhyped. However, Jesuthasan’s 15 years of research suggest otherwise. “Skills aren’t new, but what we’re seeing are the conditions that have made them incredibly pivotal to this next generation of work,” he said.
Jesuthasan highlighted another common misconception HR must dispel to bolster skills-based initiatives: Organizations must choose between a job-based approach and a skills-based one. He clarified that these concepts are not mutually exclusive. Instead, he said, companies can use jobs as structures that encompass skills, allowing for more granular work assignments and broader opportunities.
One of the most progressive shifts Jesuthasan sees coming down the pike is the move toward “permeable boundaries” in organizations and even across industries. Rather than demanding rigid organizational loyalty, some companies now manage talent through skills-based systems that allow for talent sharing. While this may not be a common practice in many organizations right now, Jesuthasan views this approach as beneficial for building a workforce that can adapt to changing needs.
For example, Jesuthasan said, during the pandemic, cross-company collaboration within the airline industry allowed baggage handlers to transition to retail distribution roles, helping both sectors balance labor demand and workforce availability. “It was a fascinating way of increasing the transferability and portability of skills,” he said.
Check out the video interview here to get Jesuthasan’s full insights. For more on Jesuthasan’s book, The Skills-Powered Organization, including a free excerpt, visit skillspoweredorganization.com.
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