What is the story about?
What's Happening?
Unum, an employee benefits provider, is utilizing a skills-based approach to workforce management, treating its workforce like a dynamic chess game. This strategy involves using skills data to redeploy employees across different business lines, maximizing productivity and innovation. During the pandemic, Unum successfully transitioned nearly 400 employees to meet urgent business needs by identifying transferable skills. This approach allows the company to optimize existing talent rather than relying solely on external recruitment.
Why It's Important?
Unum's strategy highlights a shift in how companies manage talent, focusing on internal capabilities rather than external hiring. This approach can lead to cost savings, increased employee satisfaction, and greater organizational agility. As automation and AI continue to transform industries, the ability to redeploy talent effectively becomes crucial. Companies that adopt similar strategies may gain a competitive advantage by quickly adapting to market changes and maximizing their human resources.
What's Next?
Unum plans to continue refining its skills-based approach, potentially influencing other organizations to adopt similar strategies. The company is also exploring 'tryouts' in its hiring process, where candidates demonstrate competencies rather than just discussing them. This could lead to more effective talent acquisition and development practices across industries.
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