The rise of artificial intelligence (AI) in the business world has led to a shift in the job market, with some positions becoming obsolete while new tasks emerge. Instead of retraining their existing staff, many companies choose to hire new employees with the necessary skills. However, a recent survey conducted by Adecco among 2,000 managers in nine countries highlights an “unbalanced buy-versus-build approach.”
To fully leverage the potential of AI and ensure the employability of their workforce, companies should focus on developing internal competencies. Yet over half of the companies surveyed plan to hire new talent rather than retrain existing staff. This trend is expected to lead to stiff competition for professionals with digital skills in the job market.
Despite the growing demand for AI specialists, only a small percentage of companies are willing to retrain their existing employees. This gap between hiring externally and upskilling internally also extends to other digital skills beyond AI, as observed in the survey. This shift has implications for wage costs, with many managers expecting significant increases in salaries for jobs requiring AI skills in the coming year.
The President of Adecco Switzerland, Marcel Keller, emphasizes the urgency for companies to either restructure their teams and invest in staff training or risk facing challenges in the evolving digital landscape. The study also reveals a lack of confidence among managers in understanding the risks and opportunities of AI, reflecting the need for formal training programs for employees at all levels.
In countries where dual vocational training is not as prevalent, investing in employee upskilling becomes even more critical. By building up digital skills internally, companies can secure their talent pipeline and adapt to the changing landscape of work.
In conclusion, companies must prioritize employee development rather than solely focusing on hiring new talent if they want to remain competitive and adaptable in today’s rapidly changing digital world.
