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Experts fear shifts in company culture during the coronavirus pandemic and rising employer expectations are accelerating a workforce skills gap.
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Additionally, fewer than four in 10 human resources executives say they currently have the skills needed to achieve their company's hiring and workforce-management goals, according to a new survey by IBM.
In 2018, research suggested that 120 million workers surveyed in the world's 12 largest economies may need to be retrained because of the advancement of artificial intelligence and automation within three years' time.
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The challenge has been exacerbated amid the ongoing global health crisis as a result of C-suite leaders accelerating their digital transformation. Those top-tier executives have reported inadequate skills as one of their biggest hurdles to progress, IBM said.
"Today perhaps more than ever, organizations can either fail or thrive based on their ability to enable the agility and resiliency of their greatest competitive advantage – their people," said Amy Wright, managing partner of IBM Talent & Transformation.