“Adulting” Really?

3 years. That’s apparently when the skills crisis will hit. While I don’t necessarily disagree that a problem exists, I tend to be cynical of anyone or anything foretelling the date something will happen. What I do find compelling is the latest news from a study by the IBM Institute for Business Value out this week. The study is based on the input from 5,670 global executives in 48 countries has some surprising, and not so surprising results. For those of you familiar with my “HR Perfect Storm” theory, you’ll quickly see how this study validates the convergence of several fronts I’ve often discussed; Education, Talent, Technology, and Generational characteristics.
According to the study, all the STEM and Tech skill shortage fears have been overhyped. Those skills are valuable and still in need. However, what the study finds more critical is the lack of Behavioral (Adulting) skills that will be in high demand and short supply at the current rate, or as they predict – 3 years from now. (By the way, that handsome boy pictured above just turned 17 on Tuesday) Most of the study conclusions align with what was said at a CHRO discussion I moderated last year. Below are what I believe to be a few of the main “Fronts” or contributors to the growing lack of Behavioral Skills.
Education. An obvious start given my stance lately. Student debt is out of control, yet graduates are unable to find jobs and employers cannot find suitable talent. The Wall Street Journal published a great article in June, 2017; “Many Colleges Fail in Teaching How to Think.” Critical thinking as a skill is at the core of the behavioral skills so desperately needed today. It’s not about rote memorization, it’s forming opinions, developing gut instincts and understanding a greater context. Colleges and Universities are failing on a grand scale to teach students “how to think.”
Talent. True talent is scarce in today’s low unemployment workforce. Those who want to work are working. Even more so, those with talent organizations truly desire, are in demand; often at a higher price than before. Upskilling must be considered for those who have potential as talent will always go where talent is rewarded. As the Boomers retire there are significant gaps that GenX just doesn’t have the numbers to fill. Millennials still lack experience to fill many senior level management roles that will be vacated. Core technical skills will be needed, but someone will also need to lead those teams.
Technology. It’s not just Technology for the sake of technology. It is inevitable that Automation/AI would displace roles. How the technology is applied to solve challenges will separate the leaders from the laggers. The study points out; “The issue is not just one of jobs being lost, but the lack of a strong skills base to underpin the emerging technologies.” The ability to learn, unlearn and learn again is the greatest skill one could develop with technology. Behavioral skills have moved ahead in importance of “basic computer and software skills” in the survey due to the growing scarcity (Figure below).
Generations. GenX might get the last laugh. As “Digital Immigrants” GenX had to learn to do things manually first, to then appreciate the benefits of technology. If something didn’t work, we had to figure another way. When you consider “Digital Natives” with Millennials and Gen Z, things have only been digital. And often digital has replaced “human.” It kills me when I see families out to dinner and every member is on their phone or device. While social networking has enabled mass sharing of updates, how many truly know how to interact in real life or “IRL.” Interpersonal skills are one area I see as the greatest advantage for those who grew up before the virtual social network.

In a grim note, the study suggests that “the rate at which professional skills are becoming “obsolete’ is increasing at a fast pace” and CEO’s must find a way to acquire or develop talent to fully execute their strategies. This essentially comes back to the one place I’ve said it at the center of the storm; HR. While the article says “3 years” – the time to act is now.
It will be up to HR in the coming years to fill the gaps through educating, acquiring and retaining talent that is skilled and capable of leading. Of course, while maintaining compliance and traditional HR functions. It’s time to re-think and re-imagine the role HR and Talent will play in organizations. The very success of an organization will depend on it.