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The bold shift to a skills-based workforce: A CHRO’s perspective
- Susan LaMonica, CHRO at Citizens, has successfully transitioned the financial firm to a skills-based workforce, training over 5,800 employees on in-demand skills and integrating AI into workforce development.
- The transition to a skills-based workforce at Citizens was driven by the pace of change, focusing on roles influenced by needed skills and establishing a common language around skills.
- The three levels of context outlined by LaMonica include a focus on skills acquisition, a growth mindset embracing learning, and accountability for individual and managerial learning.
- Research has shown a modest increase in hiring workers without bachelor's degrees after removing degree requirements, highlighting the challenges and opportunities of skills-based hiring.
- LaMonica emphasizes the need for organizational buy-in and preparation for the shift towards skills-based hiring, revamping candidate selection processes and utilizing assessments and panel interviews.
- Citizens introduced an internal talent marketplace, Talent Matters, aimed at offering personalized learning opportunities and connecting employees based on skills and values.
- Considering impending declines in the talent pool, LaMonica suggests leveraging available workforce through the talent marketplace to access diverse skill sets.
- LaMonica stresses on continuous learning to remain relevant in the face of AI advancements, establishing learning academies and badges to drive accountability for skill development.
- Managers at Citizens are encouraged to support employee learning by providing time for intentional learning, fostering a culture of perpetual learning and development.
- LaMonica praises leaders who prioritize employee development, skills-based work, and continuous learning, shaping the expectations of what constitutes excellence within the organization.
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