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Maybe I’m a little dramatic, but the skills gap is really rocking the talentdevelopment space lately — and it’s only getting worse. trillion in unrealized revenue from the skills gap and talent shortage by 2030. Looking for talent and not finding the right fit is also leaving companies in a precarious position.
As more Americans come out as LGBTQ—a study by the Human Rights Campaign found that one in seven adults will identify as LGBTQ by 2030—prioritizing inclusion is increasingly considered a smart business decision. “So, the future of your workforce and the future of your productivity depends on supporting the LGBTQ community.”
Does L&D have a positive impact on recruitment, engagement, and retention? Tracking the right learning and development KPIs can mean the difference between guessing and knowing the impact of your efforts. More than 90% of L&D leaders agreed that effective training and development programs improve employee retention.
However, building a leadership pipeline involves more than just succession planning ; it requires a proactive approach to both leadership and talentdevelopment. Is there more to leadership development than just training? These questions take on even more significance amid retirements or employee turnover.
Create an “always-on” digital interface with employees that is very interactive regarding experiences, leading them toward satisfaction, productivity, and retention. Adaptation to Workforce Diversity Develop holistic strategies to ensure your culture accepts and encourages various views, backgrounds, and work styles.
According to the report by the Association for TalentDevelopment , soft skills that are in short supply are critical thinking and problem-solving, managerial and supervisory skills, and communication and interpersonal skills. It developed a tech apprenticeship program called Verizon Thrive.
Close Impending Skills Gaps The demand for new skills is rising quickly according to the World Economic Forums Future of Jobs Report 2025 , 39% of employees skill sets will be transformed or outdated by 2030. When you use learning and development software with built-in analytics, you can identify and address these gaps early.
Organizations with employee development programs are six times more likely to increase employee engagement (and higher engagement rates increase revenue growth ). Higher rates of training results in lower rates of turnover (and turnover is expensive.). Use it as a recruiting and retention tool. Future proofing.
Upskilling and reskilling initiatives also contribute to higher retention. 94% of employees said they’d stay at their company longer if it invested in their professional development. Learn more about the difference between reskilling and upskilling, their benefits, and how to use them both to improve your talent management strategy.
Close skills gaps and future-proof your organization Skill sets for jobs have changed by 25% since 2015 and this number is expected to grow to 65% by 2030, effectively widening the current skills gap. Increase employee retention Two out of three workers have considered leaving their job due to a lack of career growth opportunities.
The global talent shortage is projected to reach 85 million people by 2030 , creating an urgent need for organizations to rethink how they attract, develop, and retain talent. One approach HR can take to improve talent processes is to adopt artificial intelligence (AI) in talent management.
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