The 2023/2024 Skills Snapshot Survey report 

   

Skills-Powered Practices: Accelerating the future of Talent and Rewards

Reskilling employees is the #1 workforce initiative for executives, and HR ranks and re-designing talent processes around skills as their second highest priorities, according to our latest research. Leading organisations are already looking at ways to weave skills into their established performance-based approaches. Do you measure up?

Mercer’s annual Skills Snapshot Survey collects benchmarking data from multinationals worldwide to uncover key trends, challenges and opportunities around skills-based talent practices, gauging market progress year by year. The research report will provide you with actionable insights and data to benchmark your approaches against peers and optimise your efforts. 

Key points we address in the research

  • Bridging the skills gap
  • Building a skills foundation 
  • Unravelling the skills mapping dilemma
  • Determining the frequency of skill assessment
  • Embracing transparency
  • Navigating skill proficiency dispersions 
  • Skills-based rewards: a nascent trend with promise
  • Overcoming barriers to progress
  • Making the move toward a skills-based talent strategy
The limited but growing use of skills in workforce planning; projects and gigs; and work design suggests companies start with use cases that are simpler and less disruptive. For instance, increasing projects and gigs requires changing how talent flows to work; work design changes what, whom and how work is performed; and workforce planning has far-reaching downstream impacts on talent assessment, development and flexible talent pools. Accordingly, skills-based practices related to employee attraction, development and retention are already the norm. 

Benefits of skills-based practices

Skills-based talent practices has 6 benefits. These are: 1. Attracting and retaining critical skills 2. Workforce productivity 3. Workforce agility/flexibility 4. Employee development opportunity. 5. Other 6. Career/learning culture
It is clearer than ever that organisations are well on their way to making skills the currency of work. This study provides compelling evidence of how legacy mindsets, skillsets and toolsets are transforming to embrace this new reality.
Ravin Jesuthasan

CFA, FRSA, Senior Partner Global Leader, Transformation Services

Are you looking to take a skills-first approach to talent management, but not sure where to start? Mercer has you covered. Our experts have outlined five key steps to help you get started on your journey towards a more agile and flexible workforce. 
  • Build the business case
  • Align the key performance indicators (KPIs)
  • Design with end in mind
  • Prioritise change management and communications
  • Drive and sustain

Start now!

Mercer guides your skills-powered transformation journey.
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