TrueBlue (NYSE: TBI), a leading provider of specialized workforce solutions, today announced the results of a comprehensive study conducted by PeopleScout, a TrueBlue company that specializes in recruitment process outsourcing, and Spotted Zebra, a company that specializes in HR technology.. As a result of the study's findings, we have come to the surprising conclusion that nine out of ten human resources leaders believe that up to 50 percent of their workforce will need to reskill over the next five years, with only 7 percent reporting an active investment in their reskilling programs in the next five years.
As a result of the study's findings, we have come to the surprising conclusion that nine out of ten human resources leaders believe that up to 50 percent of their workforce will need to reskill over the next five years, with only 7 percent reporting an active investment in their reskilling programs in the next five years.
Global Labor Trends & the Skills Crisis CountdownThis pivotal research report, The Skills Crisis Countdown, provides an unprecedented insight into the changing workforce skills landscape as well as a growing disconnect between employee capabilities and business needs that emphasizes how it is imperative that we adopt a skills-based management and acquisition strategy.. It is estimated that 85 million jobs will go unfilled by 2030, which will result in an $8 trillion cost to society.It is estimated that the World Economic Forum has lost $5 trillion in revenue as a result of these losses. According to the report, talent shortages are a major problem across a wide range of industries including education, hospitality, healthcare, technology, and manufacturing.. In the survey, approximately 80 percent of organizations reported that recruiting skilled talent is the biggest challenge they face, followed by retaining key personnel and upskilling current employees.
In the survey, approximately 80 percent of organizations reported that recruiting skilled talent is the biggest challenge they face, followed by retaining key personnel and upskilling current employees.
As a result of the global labor trends and skills countdown, this pivotal research report, The Skills Crisis Countdown, offers an unprecedented view of the rapidly transforming workforce skills landscape and the disconnect between employee capabilities and business needs that is highlighting the need for a skills-based talent acquisition and management strategy.. It is estimated that 85 million jobs could go unfilled by 2030, which will cost $8 billion in lost wages.According to the World Economic Forum, there was a loss of $5 trillion in revenue in 2004. According to the report, talent shortages are the most prevalent across a wide range of industries including education, hospitality, healthcare, technology, and manufacturing, among others. A majority of organizations report that recruiting skilled talent is their top workforce challenge, followed by retaining key personnel and upskilling existing employees as their major workforce challenges
A majority of organizations report that recruiting skilled talent is their top workforce challenge, followed by retaining key personnel and upskilling existing employees as their major workforce challenges
It is clear that employers are ill-prepared for the futureGlobal trends such as automation, AI adoption, the green economy, and workforce demographic shifts are rapidly changing the skills necessary for jobs. The result is a growing skills gap and shortage in the workplace.. In spite of the fact that companies continue to prioritize degrees and experience over skills when making hiring decisions, despite the crucial need for aligned skills. As one in two HR leaders admitted that they lacked an understanding of the skills-based practices that would be necessary to support the skills-based strategies that would be used in such a workforce strategy, this may be due to a general unfamiliarity with skills-based talent strategies.
As one in two HR leaders admitted that they lacked an understanding of the skills-based practices that would be necessary to support the skills-based strategies that would be used in such a workforce strategy, this may be due to a general unfamiliarity with skills-based talent strategies.
As a trusted talent advisor to hundreds of clients across almost all industries, we see that the skills gap continues to widen, making it one of the most challenging challenges facing organizations today," said Rick Betori, President of PeopleScout & EVP of TrueBlue.. There is a compelling need for more research in order to understand the current disconnect between the demands of the future workforce and traditional hiring practices, ultimately emphasizing why skills-based talent strategies are now mission critical for the long-term success of an organization.
There is a compelling need for more research in order to understand the current disconnect between the demands of the future workforce and traditional hiring practices, ultimately emphasizing why skills-based talent strategies are now mission critical for the long-term success of an organization.
As technology adoption accelerates, the need for skills evolution is intensifying, with 50 percent of HR leaders at large organizations predicting that job roles at their organizations will undergo changes as a result of shifts in the skills required for each job role. The report, however, reveals that there is another disparity in regards to the perceived importance of technology skills, according to the report. Even though the demand for skills in technology is on the rise, employers and employees continue to undervalue the value of these skills, ranking them second to last when asked what skills are most important for the future.. In addition, 34 percent of employers do not have any plans for embracing automation and artificial intelligence in their workplaces
In addition, 34 percent of employers do not have any plans for embracing automation and artificial intelligence in their workplaces
It is remarkable how rapidly GAI has developed from an abstract concept to a tangible force with dramatic impacts throughout the world within just a few short months. According to Simon Wright, Global Head of Talent Advisory Consulting of PeopleScout, "Skill profiles across industries have already changed dramatically and will continue to evolve rapidly." This study reveals that many HR leaders are not ready for this transformation. We need to better align on the importance of tech literacy in order to close the widening skills gap."
The key to becoming a skills-based organization is developing a talent strategy that is based on skills, and employers across all regions and industries are facing a deadline in which to act. "If organizations do not have future-focused skills strategies for both hiring and development, they will suffer losses in revenue and productivity, as critical jobs go unfilled," said Nick Shaw, Founder & Chief Customer Officer of Spotted Zebra.
This research will be presented by Shaw and Wright in a webinar on Thursday, February 1, 2024, at 11 am CST. If you would like to join the webinar, please register here.

Source prnewswire