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June 13th, 2024 · 4 min read

Future-proof your company with talent development

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The heightened need for talent development

  • Talent shortages: With many industries facing significant labor shortages, hiring outside talent has become increasingly difficult. This is especially true for companies with large frontline populations.
  • Skills gaps: Jobs and the skills needed for them are constantly evolving, causing many skills to become outdated or even obsolete. To avoid productivity losses and other negative consequences of skills gaps, companies need to focus on upskilling and reskilling their employees.
  • Economic constraints: Many companies are operating with constrained budgets due to global economic pressures. This heightens the pressure to reduce financial losses associated with recruitment and employee turnover.

5 ways talent development can support a future-ready workforce

Prepare for disruption

Keep pace with technology

Get better at succession planning

Address emerging skills gaps

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Reduce hiring and turnover costs

Talent development is the key to a company’s future

You can address talent development challenges