In today’s dynamic and ever-evolving landscape, organisations are continuously searching for innovative talent management strategies to propel growth and achieve success. A Deloitte study revealed that 85% of business executives believe that organisations must adopt more agile approaches to organising work to effectively respond to market shifts.
One emerging strategy gaining traction is the utilisation of adjacent skills to cultivate a versatile talent pool, enabling teams to reach their full potential. But what exactly distinguishes adjacent skills from transferable ones?
Adjacent Skills vs Transferable Skills: Distinguishing Between the Two
Transferable skills are abilities and strengths that can be used in various jobs and industries. These may include communication, problem-solving, and leadership abilities. On the other hand, Eightfold AI (the industry’s first Talent Intelligence Platform), defines adjacent skills to be skills that are closely related to an individual’s existing skill set or expertise. For example, a software developer may also have skills in project management or user experience design, which complement their technical abilities.
Harnessing adjacent skills offers a significant advantage: enhancing your team’s confidence. Research cited by HR Grapevine reveals that 40% of employees lack confidence in the relevance of their current skills in the future, underscoring the pivotal role of embracing adjacent skills in bolstering employee confidence and dispelling such concerns. Discovering how your current employees can be upskilled and transitioned into new roles is not only beneficial for attracting fresh talent but also essential for retaining your top performers.
Building a Flexible Talent Strategy: Key Steps and Considerations
- Identify and Assess Adjacent Skills: Conduct comprehensive skills assessments to identify employees’ diverse talents and competencies beyond their primary roles. Utilise tools such as competency frameworks and 360-degree feedback to gain insights into individuals’ strengths and areas for development.
- Foster a Culture of Continuous Learning: Encourage employees to pursue professional development opportunities that enhance their adjacent skills and contribute to their overall growth. Offer access to online courses, workshops, and mentoring programmes that support skill diversification and career advancement.
- Facilitate Cross-Functional Collaboration: Create opportunities for cross-departmental collaboration and knowledge sharing to harness the collective expertise of diverse teams. Encourage employees to collaborate on projects outside their immediate areas of expertise, fostering innovation and creative problem-solving.
- Recognise and Reward Versatility: Acknowledge and reward employees who demonstrate versatility and contribute to the organisation’s success through their adjacent skills. Implement recognition programmes, performance bonuses, or career advancement opportunities that incentivise skill diversification and excellence.
Unlocking Potential: Embracing a Transformative Approach to Talent Management
By embracing the concept of adjacent skills, companies can tap into the diverse talents and capabilities of their employees to enhance problem-solving, improve collaboration, increase adaptability, stimulate innovation, and boost employee engagement/ satisfaction. Whether you’re a startup or a large organisation, prioritising the utilisation of adjacent skills can drive organisational success.
Ready to take your talent strategy to the next level? Contact Annapurna Recruitment today to discover how we can help you identify, attract, and retain top talent with diverse skill sets and expertise. Let’s unlock your organisation’s full potential together!
