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What if skills could directly boost your business’s bottom line?

by | Sep 26, 2024

Talent and skills
Home 5 Talent and Skills 5 What if skills could directly boost your business’s bottom line?

What if skills could directly boost your business’s bottom line?

In this episode of the HR on the Offensive podcast, Chris and LACEr Pavan Bilkhoo discuss the importance of skills in driving business performance with their guest, Craige Heaney, VP of Talent and Organisational Effectiveness at Pandora. talent skills brain growth LACE

This podcast is part of our Becoming-skills powered campaign where we’ll be addressing some of the key questions around skills-based approaches, including the essential foundations of a skills-based organisation and much more.

How can organisations develop effective skill strategies that are connected to their business outcomes?

Craig emphasises that simply building skills frameworks or academies isn’t enough; skills must be relevant to solving real business problems, such as boosting sales, reducing costs, or improving productivity. He stresses the need to identify critical skills tied to the business strategy and focus on specific areas that generate tangible results.

One key takeaway is that HR teams need to move away from abstract skill-building initiatives and adopt a commercial mindset. This means ensuring that skill development is directly linked to measurable business goals. Craig also discusses the importance of fostering learning agility, which helps employees adapt to new roles and challenges.

How should organisations communicate skill strategies?

Craig advises simplifying the approach, focusing on two or three critical skills that align with business needs, and making sure the results are measurable. He underscores the significance of assessing the impact of skill-building efforts through engagement surveys and other performance metrics.

Listen now to learn how a skills-based approach not only enhances employee capabilities but also drives bottom-line value for the business.

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