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Bloomberg
SponsoredBy
Next
workday
BuildingTomorrow’sTalent:
CollaborationCanClose
EmergingSkillsGap
BuildingTomorrow’sTalent:
CollaborationCanCloseEmergingSkillsGap
BusinessandacademiaintheU.S.havetraditionallybeen
abletoequipnewworkforcerecruitswiththehardskillstheyneedtoperformatahighlevelintheworkplace.Butwiththeregularflowofnewtechnologiesandbusinessmodelsintothemarket,today’semployeesmustnavigateallthischangewithavariedskillset.
Thismeanssoftskillssuchasadaptabilityandcomplex
problem-solvingaremoreimportantthaneverforrecentcollegegrads,mid-careerprofessionals,andseasonedexecutives.Employerneedsarecontinuallyshiftingin
responsetochangesinindustryandthemarketplace,soworkersalsoneedtokeeprefreshingboththeirhardandsoftskills.
TheWideningGap
A2018BloombergNextandWorkdaysurveyaskedif
businessandacademiaweremeetingthesechallenges,andwhatareastheymightneedtorefineorrethinktoimproveoutcomes.
Theresearchteamsurveyed200senior-levelindividuals—100eachinacademiaandbusiness—focusingonfourprimary
themes:preparedness,skills,collaboration,andplanning.
Corporate,professionalservice,andnonprofitrespondentscamefromorganizationswithatleast500employeesbasedintheU.S.
RESPONDENTPROFILES
AFFILIATIONS
•Lawandaccountingfirms
•Corporationsorcommercialorganizations
•Nonprofits
•Academicinstitutions
EXPERTISE
•Talentmanagementanddevelopment
•Hiringandrecruiting
•Developingoracquiringtechnology
•Corporateorworkforcestrategy
JOBTITLES
•President
•C-suite
•Director/vicepresident
•Executiveorseniorvicepresident
Thesurveyresultsidentifiedseveralsignificantissues.
•Amajorityofrespondentssaidnewhiresarenot
well-preparedtoperformatahighlevelinaprofessional
environment,primarilybecauseofinsufficientsoftskills.
•Asurprisingnumberoforganizationslackformalplansandbudgetsforaddressingtheimpactofemergingtechnologies.
•Businessandacademiaarenotcollaboratingasactivelyandeffectivelyastheycouldbeinpreparingstudentsforem-
ploymentandreskillingindividualsalreadyintheworkforce.
PreparednessofRecruits/StudentstoPerformat
aHighLevelinaProfessionalEnvironment
4%
8%
44%
44%
Corporationn=100
7%
24%
34%
35%
AcademicInstitution
n=100
Notpreparedwithhardorsoftskills
Preparedwithsoftskills,butrequiringsignificanthardskillstraining
Preparedwithhardskills,butlackingsoftskillstobeeffective
Well-preparedwithhardand
softskillsets
Lookingahead,academicandbusinessleaderswhobuildon
existingpartnershipsanddevelopnewonescangive
studentsandnewrecruitsthecomprehensiveskillstheylackandestablishaframeworkforreskillingexperiencedworkers.
NewRecruitsNeedSoftSkills
Ifrecentgraduatesarenotwell-preparedfortheirnewjobs,itisnotbecausetheirhardskillsaredeficient.Some90percentofcorporaterespondentsand88percentofacademics
surveyedsaidnewrecruitshavethehardskills,suchas
computerliteracyandwrittencommunication,todotheir
jobssuccessfully.
Butbothgroups,however,werefarlesssatisfiedwithnew
employees’softskills.Nearlyfourin10corporationsand
almosthalfofacademicinstitutionssaidnewhireslackthe
softskillstheyneedtoperformatahighlevel.
Surveyrespondentsfrombothbusinessandacademia
agreedthemostimportantsoftskillsareteamwork,analyticalreasoning,complexproblem-solving,agility,adaptability,
andethicaljudgment.
2
Copyright©2018byTheBureauofNationalAffairs,Inc.
Evolvejobresponsibilities
toreflectfutureneeds
Improverecruitingofdiversetalent
Supportmobilityandjobrotation
Investinreskillingcurrentemployees
Collaboratewitheducationalinstitutionstodevelopnewcurriculums
Offerapprenticeships
Replaceapercentageofthecurrentworkforcewithnewtalenttoensuretherightskills
Collaboratewithothercompanies
acrossindustries
Collaboratewithothercompanies
withinspecificindustries
Reducesizeofcurrentworkforce
Outsourcecurrentwork
Hiremoreshort-termworkers
55%
53%
Respondentsalsonoted,however,thatnewrecruitsarenotmeetingexpectationsinsuchsoftskillsasemotional
intelligence,negotiationandpersuasion,and,notably,complexreasoning.Thisindicatesthatbusinessand
academiaarefailingtodevelopaskilltheyhaveidentifiedasoneofthemostimportant.
5MostImportantSoftSkills
Corporationn=100AcademicInstitutionn=100
51%
46%
39%
46%
1%
4
38%39%
42%
29%
62%
1Team-workingskills(coordinating
andcollaboratingwithothers)
57%
56%
2Analyticalreasoning/criticalthinking
3Complexproblemsolving
4Agilityandadaptability
5Ethicaljudgment
5Decision-making
Decision-makingmakesthetopfiveforcorporaterespondents,
whileethicaljudgmentmakesthetopfiveforacademicrespondents.
Thissoft-skillsdeficitisproblematicasitsuggestsnewhiresareill-preparedtotacklesomeofthemostdifficultand
commonchallengestheywillfaceintoday’sworkplace.
“Employeesneedtohavetheskillstoworkwithdifferent
stakeholdersbothinternallyandexternally,”saidTensie
Whelan,directoroftheCenterforSustainableBusinessat
NewYorkUniversity’sSternSchoolofBusiness.“Theyhavetofigureouthowtobuildtrust,alliances,andwin-winsituations,allwithsoftpower,throughpersuasion.”
“Thesoftskillsarethemostimportantandthetoughesttomaster,”saidMarinaGorbis,executivedirectorofthe
nonprofitInstitutefortheFuture,whichhelpsorganizationsplanstrategicallyforthelongterm.
ExistingTalentNeedsReskilling
Some55percentofcorporationsplantoevolvejob
responsibilitiestoreflectfutureneeds,whichmeansexistingemployeesneedtobereskilledbecausetheirjobswill
change.Mid-careerprofessionalsmustadaptandmeetthesamechallengesasnewrecruits.Itisencouragingthatmorethan40percentofcorporationssurveyedsaidtheywillreskillratherthanreplaceemployeeswhentechnologychange
requiresit.
However,only30percentofcorporationsand39percentofeducatorssaidtheyarecollaboratingtohelpreskillandretrainemployees.Businessandacademianeedtoaddressthiscriticallyimportantissuetoensurethattheworkforceisprepared.
Anticipated/PlannedActionItemsforCorporations
43%
41%
32%
30%
22%
21%
21%
21%
8%
1
13
%
*Corporaterespondentsinorganizationsmaking$499millionorlessinannual
revenuearesignificantlymorelikelytoofferapprenticeships(42%)thanthosein
organizationsgenerating$500millionormoreinannualrevenue.
PersistentChallenges
Itisclearthatnewhiresareenteringtheworkforcewithan
incompletesetofskills.Thequestioniswhy?“Ithinkweneed
toasksomequestionsofthebusinessandacademic
communities,”saidDorianWarren,afellowattheRooseveltInstituteandformerprofessorattheUniversityofChicagoandColumbiaUniversity.“Thereisclearlyadisconnect
betweenthetwogroups.Aretheytalkingpasteachother?Aretheytalkingenough?”
Thesurveyshowsalackofplanningbybothbusinessandacademia.Onlyabouthalfofbusinessesandtwo-thirdsofacademicinstitutionshaveaformalplanforaddressingtheimpactofemergingtechnologies.
FormalBusinessPlansinPlacetoPrepare
7%9%
17%
24%
43%
67%
52%
FutureWorkforces
6%
19%
23%
25%
27%
AcademicInstitution
n=100
Corporation
n=100
No,wedonotseethis
asanareaofconcern
No,butwe’vestartedtohavediscussionamongseniorleadershiponthistopic/weintendtoaddressthissoon
No,butoneisindevelopment
Yes,aformalplan
hasbeencreated
Yes,aformalplanhasbeencreatedandiscurrentlybeingimplemented
3
Copyright©2018byTheBureauofNationalAffairs,Inc.
MarinaGorbisoftheInstitutefortheFutureisdeeply
concernedaboutthisfinding.“Itiscriticalthatallorganizationsthinksystematicallyaboutthefuture,particularlyinthese
times,”shesaid.“Thislevelofplanningshouldalmostbea
fiduciaryresponsibility.Howdoyouinnovate?Howdoyoudostrategicplanningwithoutrigorousplanningandaviewtothefuture?Youcan’t.”
DavidWilliams,aprincipalwithDeloitteFinancialAdvisory
Services,believestheskillsissueisreallyacollaboration
problem.“Academiahaseveryrighttosaytheyareturningoutthesmartest,best-educatedstudentsever,butbusiness
clearlywantsadifferentmixofskills,”hesaid.“Ithinkthe
narrativereallyoughttobeaboutcollaboration.Howdothesegroupscollaboratearounddevelopingtheskillsetsthatwill
producethemostimportantandrelevantworkproduct?”
SelectionofCollaborationStatementsthatareTrue
Totaln=200Corporationn=100AcademicInstitutionn=100
Collaboratestoestablish
education-to-workpipelines
Collaboratestoshapecurriculumtoalignskills
Collaboratesonreskilling/retraining
Noneoftheabove
Idon’tknow
38%
38%
39%
30%
22%
6%
%
6%
3
66%
66%
Thesurveyhighlightsalackofcollaborationbetweenbusinessandacademia.Inadditiontothedatashownabove,amajorityofrespondentsfeeltheircounterpartsaremotivatedorhighly
motivatedtocollaborate(60percentand67percent,
respectively).Butthelevelofactualcollaborationisquiteabitlower,largelybecausebusinessesarenotmakingitapriority.
Only38percentofcorporaterespondentsareactively
collaboratingtoestablisheducation-to-workpipelines.Just38percentofbusinessesareworkingwiththeiracademic
counterpartstoshapecurriculum.Academicinstitutionsaredoingbetter,with66percentofsurveyrespondents
collaboratingwithbusinesstobuildeducation-to-work
pipelines,and66percentworkingwithcorporationstoalignskillswithwhatbusinessexpects.
ClosingtheGap:Collaboration
Aligningtrainingwithworkplaceneedstobetterequipbothnewandseasonedemployeesrequiresstrongandstrategicpartnershipsbetweenbusinessandacademia.
ZiaKhan,vicepresidentofinnovationattheRockefeller
Foundation,challengestheconventionalviewthatthe
skills-developmentpipelinealwaysflowsfromacademiatobusiness.“Ithinkwe’regoingtoseeamuchlesslinear
approach,”hesays.“Foronething,itcanworkbackwardswherebusinessfeedsproblemsbacktoacademiatoguidetheirresearcheffortsmoreproductively.”
But,“Side-by-sidecollaborationmightnotevenberealistic
whenorganizationshavedifferentcultures,standardsof
quality,andpace.Iexpectwe’llseeintermediate
organizations—institutesorteams—thatjointlyworkon
objectivesthatdrawonthebestoftheirrespective
organizationswithoutgettingheldback.We’veseenthis
beforewithpartnershipslikeBellLabsandAT&T.”1
SomeleaderslikeWhelanatNewYorkUniversityareforgingproductiveexamplesofcollaborationthatbothfeedback
intotheworkplaceandinformfutureinstruction.In2016,sheestablishedtheCenterforSustainableBusinessatNewYorkUniversity’sSternSchoolofBusiness.Shedrewonher
relationshipswithbusinessleaderslikePaulPolman,chief
executiveofUnilever,tounderstandwhatorganizationsneedinsustainabilityprofessionals.Shealsoestablishedan
advisoryboardwithC-suitecorporateleaders,andagroupofadvisorsfromthemiddle-managementranksrepresentingseveralindustrysectors.
“Together,theyserveasasoundingboardforthebusinesscommunity,toensurethateverythingwedoatourcenteriscurrentandrelevant,”Whelansaid.
Thecenterhostsbusinessleaderswhosharesustainability
strategiesandrelevantbusinesscases.Thecenteralso
conductsjointresearchprojectswithindustry,mostrecentlywithagroupofcompaniesintheautosector.Itplaces
studentsininternshipssothey“learnfirst-handwhat
businessesareconfronting,”Whelansaid,“andbusinesscanunderstandourstudentsandtheirlevelofexpertise.”
Allofthisinteractioninformsthecenter’scurriculum.“It’sveryvaluableinput,”Whelansaid.“Ithelpssetdirectionandhelpsusknowatahighlevelwhatcoursesareneeded.”
NewApproachestoReskilling
Thereisstrongevidencethatbusinessandacademiacan
overcomethesechallenges,andnumerouscasestudies
providelessonsandexamples.
Forexample,some41percentofbusinessesareinvestinginreskilling,accordingtothesurvey.Some55percentplantoevolvejobresponsibilitiestoreflectfutureneeds,anda
majoritysaytheirtrainingbudgetsaregoingup.Allofthis
saysbusinessesarecommittedtotheirownpeople.
1NokiaBellLabs,“History,”
/about/history-bell-labs/
4
Copyright©2018byTheBureauofNationalAffairs,Inc.
KhanoftheRockefellerFoundationagreesthatsoftskills
shouldbedevelopedprimarilyattheuniversitylevel.Buthe
saysitisuptobusinesstosendastronger“marketsignal”to
schoolsandjob-seekersthatsoftskillsareimportant.“Right
now,schoolsandcandidatesmighthearthattheseskillsare
important,butbusinessesarerecruitingandinterviewing
primarilyforhardskills.Atbest,theyaresendingmixedsignals.”
NewYorkUniversity’sWhelansaidthat“Traditionally,studentshavebeentrainedtodeconstructsomething,takeitaparttoitscomponentparts,intellectuallyorphysically.It’spartofthe
industrialrevolutionmodel.”But“todayeverythingis
interconnected.Whenyoupushonelever,somethingis
affectedsomewhereelse.Youneedtobeabletothinkaboutthingsinasystemsway.Itcreatesbusinessopportunityanditreducesrisk.”
“Youshouldn’tbereskillingbecauseyoulostyourjob.Itshouldbeaboutstayingcurrentinyourjob.”
Yetacademicandbusinessleaderscautionthatskillstrainingisdifficulttoimplementsuccessfully.TheRooseveltInstitute’sDorianWarrennotedthathistorically,government-ledeffortsliketradeadjustmentassistanceprograms2havenotbeen
highlysuccessful.“Atthegovernmentandpolicylevel,atleast,theseprogramshavenotbeenconsideredvery
effective.”
DianaFarrell,presidentandchiefexecutiveoftheJPMorganChaseInstitute,advocatesforamorecollaborativeretrainingmodel.“Irecommendamoreactivecollaboration,witha
companyorindustrygroupworkingwithacademic
institutionstoprovideabaselevelofcredentials,”shesaid.
Forexample,theautoindustryrecognizedtheneedtoinvestinlocalcommunitycollegesanduniversitiestoestablish
programsthatwouldhelpdevelopthetalenttheyweregoingtoneedastheindustryevolves.
“There’satransformationalshiftthat’sneededineducation
thathelpspeopleacquiregoodtechnicalandprofessional
skillsafterhighschool—alayerofskillsthatdoesnotrequireacollegedegreetoacquire.”Andthatskillsdevelopment
needstocontinueforexistingemployees,onthejob.
SoftSkillsforToday’sWorkplace
Ensuringstudentshavetherightsoftskillstosucceedis
essential,andleaderslikeDavidWilliamsofDeloittebelievetheyknowhowtoapproachit.
“Forme,theseskillsaresocorethatitisbestforacademiatotakethemon,”hesaid.“Buttheseskillsarealsosoparticulartoabusinessthatit’sreallyimportantforcompaniestotellacademiadirectly,almostincompany-by-companyterms,
whatthey’relookingfor.”
Williamsalsobelievesacademicinstitutionsneedtoadapt
theirmethodologytoteachskillsliketeamwork,collaboration,andhowtodevelopemotionalintelligence.
“Thesethingsarebesttaughtinsmallergroupsthanare
typicallyusedinundergraduateeducation,withamuchmorepsychology-orientedcurriculumwithinabusinessskillset—
andamoredesignthinkingapproachthanthetraditional
academicapproach.”4
“Ratherthansaywe’regoingtoredeployorreskillwithina
“It’sreallyimportant
forcompaniestotell
academia…whattheyarelookingfor.”
company,theysaidwe’regoingtoparticipateinabroader
effortforapopulationofworkers,whetherornottheycome
workforus,”Farrellsaid.
Intermsofactualcollaboration,academicinstitutionsaremorelikelytobecollaboratingwithcorporationsthanviceversa,particularlytoestablisheducation-to-workpipelines
(66%academicvs.38%corporate),andtoshapecurriculum(66%academicvs.38%corporate).
Beyondthat,Farrellsaiditistimetolookdifferentlyatskills
developmentandretraining.Sheservedonataskforcein
2017undertheaegisoftheCouncilonForeignRelations.The
resultingreport,TheWorkAhead,recommendednumerous
work-relatedandeducationalreforms.3Farrellsaidreskilling
shouldbeanongoingexperience,notaone-timeevent.“You
shouldn’tbereskillingbecauseyoulostyourjob.Itshouldbe
aboutstayingcurrentinyourjob.”
Withrespecttoeducation,Farrellsaid,“Iampersonally
concernedthatwehavecommunicatedtotheworldthatyou
justneedacollegedegree,andyouremploymentprospects
willbefine.That’snotthecaseforeveryone.
2U.S.DepartmentofLabor,EmploymentandTrainingAdministration,“WhatisTradeAdjustmentAssistance?”
/tradeact/factsheet.cfm
3EdwardAldenandLauraTaylor-Kale,“TheWorkAhead:CouncilonForeignRelations,April2018,
https://www.cf
Machines,Skills,andU.S.LeadershipintheTwenty-FirstCentury,”
/report/the-work-ahead/
4Ideo,“DesignThinking,”
/pages/design-thinking
5
Copyright©2018byTheBureauofNationalAffair
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