With new AI tools emerging every day, and shifting workforce dynamics, do you ever feel like you’re always playing catch-up? Your team is moving fast, but not fast enough. You’re not alone. In our fast-paced digital world, keeping up with the speed of change is a common challenge.
But, what if there was a way to not only keep pace but also lead the pack? This article will explore the current landscape of productivity challenges and how your team can overcome them with the power of Generative AI (Gen AI).
The Intelligence Economy
Organizations are at the helm of navigating through the ever-changing waters of the business world. With the rapid changes in technology and the evolution of AI, we’re now stepping into what Josh Bersin terms as the ‘intelligence economy.’ This is an era driven by skills, employee innovation, information and AI.
As some organizations are pivoting and adapting to these changes, the sharp change in organizational goals has led to a widespread shortage of workers, obsolescence of skills, and a new level of employee agency.
In an age of reinvention and evolution across industries, organizations must differentiate themselves through product innovation and speed. We’re living in a fast-paced world where “slow and steady” no longer wins the race. Agility and quick decision-making are keys to staying ahead.
What are the implications on productivity?
According to research, there is a major impact of skills gaps on the organization and business. It is estimated that skills gaps can lead to 43% less productivity (revenue per employee, GDP per economic worker); resulting in increased project durations and slower resolution times.
Moreover, the need for more skilled workers means longer hiring processes and the potential for leaving positions unfilled, hindering productivity and growth.
What can leaders do?
While L&D leaders acknowledge these challenges and aspire for productivity, many still lack a clear roadmap to achieve them. They often hold the belief that growth is primarily achieved through recruitment.
Recent research indicates a disconnect between leaders and employees. A comprehensive study conducted in late 2022 revealed a stark contrast: 87% of employees considered themselves highly productive, but only 12% of leaders concurred. This suggests that leaders might not fully comprehend the issue, often assuming that substituting underperformers will solve the problem.
In today’s world, it’s essential to consider a people-first approach when setting organizational goals. This means encouraging teamwork, fostering collaboration, and promoting skill development – all in service of projects, teams, and other crucial tasks.
Here are some strategies to consider when trying to keep up with the speed of change:
- Consider a skills-based approach to L&D: rather than focusing on job titles, dynamic organizations break down barriers and promote internal mobility based on skills, ambitions and business needs.
- People-centered leadership: traditionally, organizations have embraced structured leadership and top-down approaches. But today, leaders need to truly understand their people, instill a sense of mission and purpose and promote a culture of collaboration and learning.
- Embracing a Systemic HR approach: it’s no longer feasible to grow a company through hiring i.e. “if we hire more salespeople, we’ll make more sales.” If each new hire does not improve productivity, an organization steadily erodes its margins. Systemic HR is like taking a big-picture view of your organization. It understands that ramping up hiring or just training individuals isn’t enough to tackle today’s complex workforce challenges. Instead, it looks at the whole organization as an interconnected ecosystem and focuses on solving problems in a way that benefits the entire system.
Enter the era of Gen AI
In 2023, businesses are increasingly looking towards AI technologies to fuel their productivity engines. But, “What does this mean for L&D professionals?”
We’re living in a time where speed is of the essence. We need to equip our workforce with the skills they need, and we need to do it fast. This is where Gen AI comes into play. At Hive Learning, we are working with our customers to deliver personalized and contextualized experiences in record time. Instead of spending months crafting individual learning plans, with the help of Gen AI and our program experts, learning pathways can be created in a number of minutes.
So, as we navigate the future’s fast lanes, the question isn’t whether we should embrace Gen AI in our L&D programs. Instead, we should be asking, “How can we make the most of this powerful tool?”
The fast-paced digital world brings about productivity challenges that can be daunting for L&D professionals. However, by harnessing the power of Gen AI and adopting strategies like a skills-based approach, people-centered leadership, and a systemic HR perspective, we can turn these challenges into opportunities. This shift not only helps us keep pace with change but also positions us to lead the way.
So, as we zoom ahead into the future, are you ready to lead the productivity race with Gen AI?
Speak to a member of the Hive Learning team to find out how you can drive your organization towards a more efficient and productive future. Let’s kickstart the conversation today!
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