In the most downloaded episode of the HR Leader Podcast in 2024, Paul Broughton from Cornerstone and Katie Mangraviti from Pinpoint HRM sat down to discuss the critical challenges businesses face in creating a future-fit workforce.
With businesses experiencing unprecedented change, this conversation sheds light on the widening workforce readiness gap and why it must be addressed now. Cornerstone’s Research Report, conducted in partnership with Lighthouse, reveals staggering statistics:
- 89% of businesses believe they are meeting employee skill development needs
- However, only 39% of employees agree, highlighting a significant disconnect or gap
- By 2027, 44% of current workforce skills will be obsolete due to tech advancements
- A lack of workforce agility contributed to $8.5 trillion in lost revenue in 2023 alone*
As businesses navigate digital transformation, talent shortages, and evolving job roles, failing to address this gap could mean falling behind the competition.
Meet the Experts
Paul Broughton, Group Vice President and Managing Director APJ, brings over 14 years of experience at Cornerstone, where he helps organisations across Asia Pacific enhance their people strategies.
Katie Mangraviti, formerly with Cornerstone for eight years, now leads Pinpoint HRM’s Cornerstone practice, helping businesses implement and optimise HR technology solutions. Together, they offer valuable insights into the challenges and solutions for closing the workforce readiness gap.
What you’ll take away from the Podcast:
- Understanding the Four Key Dimensions of Workforce Disruption
- Why the Workforce Readiness Gap is Growing
- HR’s Role in Closing the Gap
- Taking Action: Where to Start
How to Listen
This insightful episode is available on:
🎧 Spotify
🎧 Apple Podcasts
🎧 HR Leader Podcast Network
We hope you enjoy the episode.
Take Action Now
For those keen to take action, Pinpoint HRM and Cornerstone offer expert guidance on implementing workforce agility strategies.
- To learn more about the workforce readiness gap, click here.
- If you need help with your HR tech project or looking to get more from your current solution contact our HR tech consultants today.
The future of work is evolving fast—will your organisation keep up? Tune in now and start closing the workforce readiness gap today!
FAQs
What is the workforce readiness gap?
The workforce readiness gap is the disconnect between the skills organisations believe they are providing and the skills employees feel they actually have. Research shows that while 89% of businesses think they are meeting employee needs, only 39% of employees agree. This gap creates challenges in agility, skills development, and retention. Learn more here.
Why is workforce readiness critical for the future of business?
As technology, demographics and labour markets evolve rapidly, organisations that fail to prepare risk productivity loss, talent shortages and reduced competitiveness. By 2027, 44% of today’s skills will be obsolete, making readiness planning essential for long-term resilience.
How can organisations assess their workforce readiness?
Businesses can assess readiness through capability assessments, employee surveys, future skills mapping and cultural diagnostics. This helps leaders identify gaps in digital literacy, change resilience and leadership capability before starting an HR tech transformation.
How does digital transformation impact workforce readiness?
Digital transformation is accelerating the need for reskilling. The World Economic Forum predicts over 55% of workers in Asia will need reskilling by 2025. Whether through automation, AI or new platforms, businesses must continuously upskill and redeploy people to remain competitive.
What are the risks of not addressing workforce readiness?
Failing to act can result in disengagement, turnover and significant financial loss. Korn Ferry estimates $8.5 trillion in lost revenue globally is linked to organisations lacking agility and workforce capability. This highlights the cost of inaction on skills and readiness.
How can HR leaders close the workforce readiness gap?
HR leaders can start with a clear skills inventory, align future workforce needs with business goals, and implement agile skilling strategies. Leveraging AI to capture and update skills data can accelerate progress, while involving employees in planning ensures alignment. Pinpoint HRM supports organisations through every stage of this journey.
What role does HR technology play in workforce readiness?
HR technology provides the visibility and tools organisations need to understand, measure and grow workforce skills. Modern HR systems consolidate fragmented data, support internal mobility, and enable predictive insights. Implemented effectively, HR tech becomes the backbone of workforce readiness. Explore how Pinpoint can help.
How can organisations use AI to accelerate workforce planning?
AI helps businesses quickly map existing skills, identify gaps and recommend learning pathways. Unlike traditional manual projects that take over a year and are outdated on day one, AI-powered solutions continuously evolve with workforce needs, making readiness strategies more dynamic and responsive.
What practical steps can businesses take to get started?
Start small with actions like internal skills audits, rethinking job design, and enabling internal mobility. Build executive sponsorship, engage employees, and treat the transformation as an organisation-wide initiative. Incremental progress compounds into sustainable workforce agility.
How does employee experience link to readiness?
Employees want transparency on career paths and access to upskilling opportunities. If businesses fail to provide this, top talent often leaves. Closing the readiness gap requires not just technology but also a culture of mobility, continuous learning and shared ownership of skills development.
What role should HR play in leading workforce readiness?
HR is the catalyst for change, working with executives to highlight risks and opportunities. In many organisations, new roles such as “Head of Workforce Agility” are emerging. HR must take responsibility for starting the conversation and ensuring the business commits to long-term workforce transformation.
