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Upskilling is coming to the forefront as the next biggest trend for companies seeking to shift further into their digital transformation. Competition for talent at its peak and in-demand workers have more options than ever. How can you efficiently fill skills and knowledge gaps in your organization?
Redesigning jobs can present new options for hiring, as you regroup skills needed and look for employees with adjacent knowledge who can be upskilled for more demanding roles. By stepping back from competing for outside talent and focusing on your own undervalued in-house talent.
Across sectors, 84% of companies are increasing investment in reskilling programs. Employees that you invest in are more likely to stay with you as they grow in their careers. By giving them the knowledge and skills, you need them to have, you nurture a longer-term relationship and reduce flight risk.
Generation Xers in particular are eager to learn on the job 91% say that employer-provided professional training potential is now a major deciding factor when choosing an employer or considering staying with an employer. Employability is now considered job security over employment, and the more skills they can gain the more secure they feel.
Employee productivity and engagement are improvements that 54% of organizations that invest in learning technology see almost immediately. This return on investment is accompanied by reduced employee churn: 94% of workers are willing to commit more strongly to an employer who showed a corresponding commitment to their career advancement.
The future will be driven by the twin engines of automation and augmentation. Your employees will not only need enhanced technological skills but improved “soft-skills” as personalized service becomes more important to consumers.
Figure out the most important skills you need your team to learn to prepare them for upcoming shifts in workplace roles and responsibilities. Megatrends are now emerging, according to a recent BCG survey. More than 60% of those surveyed stated that they believed their current employment would be affected by globalization and/or changes to technology.
Job skills adaptation must rise to meet the challenges posed by these megatrends. Teaching employees new skills for their current work position will prepare them for augmentation (upskilling), and educating workers to prepare them for a complete role shift due to automation (reskilling) will ready them for a seamless transition when the time comes.
According to McKinsey, the next decade will see marked changes in the skills most sought after:
Physical and manual skills required for repetitive tasks will drop by nearly 30%, as machines and robots take over rote tasks. The same is true for basic literacy and numeracy skills which can be expected to drop by almost 20%.
Digital skills alone make up 70% of the fastest-growing skills worldwide, but interpersonal skills are becoming just as important. Technological coding and interactive skills are expected to rise by more than 50%, and high-level social and emotional skills associated with leadership and initiative-taking (known as soft skills) will see a bump of more than 30%.
Censia can help you identify your rising stars who are best-positioned for upskilling, and also the underutilized employees who will need reskilling to regain their productivity. By developing existing but underutilized talent and increasing internal mobility opportunities, you can create stronger workers who are uniquely positioned to help you achieve your business goals.
Internal Mobility Matching provides a deeper understanding of the talent you already have and helps you pair great candidates for upskilling with learning opportunities to bridge knowledge gaps. Your employee profiles will be enriched, and you can gain insights into how your talent assets can evolve over the next year or decade. It’s the ideal way to prepare for the future of work!