From Potential to Proficiency through Upskilling and Reskilling
General Manager- Marketing
‘If knowledge is power, then learning is a superpower’- a well-said statement that prevails true in the disruptive business workspace. Learning is more than a retention measurement; the corporate sector is gradually realizing the potential of learning and development and how it can contribute directly to business outcomes. Today, organizations, to stay ahead of the curve, must keep up with the changing dynamics. As a matter of fact, it has been estimated that by 2025, approximately 85 million jobs may be displaced by automation.
In the face of this technological revolution, upskilling and reskilling have become imperative for employees to remain competitive and relevant in their respective industries. The responsibility for fostering this transformation lies with Corporate Learning and Development (L&D) departments, which are pivotal in equipping employees with the necessary skills to thrive in the ever-evolving professional landscape. The global war for talent is only going to become fiercer for organizations across industries when new capabilities are needed driven by automation and other technologies. In this context L&D’s scope goes beyond training and would become a business-critical function as skills demand-supply gap widens.
Statistically speaking, approximately 59% of corporate learning and development professionals consider upskilling and reskilling a top priority. From filling in the skill gaps to staying aligned with the constant upgrades, upskilling and reskilling can do wonders. Listed below are a few ways in which corporate L&D can upskill and reskill employees.
Creating a continuous learning culture is one of the best ways to upskill and reskill your employees. This involves instilling a mindset of ongoing learning and professional growth among employees. Integrating learning and development with performance feedback reinforces the importance of continuous improvement. Regular discussions on skill development and growth areas during performance appraisals help employees understand the significance of ongoing learning. Moreover, employees can be encouraged to attend career-related webinars and seminars that may help in their personal and overall growth.
Despite most technologies’ positive impacts on jobs over the next five years, employers predict a 23% structural labor market churn. Therefore, corporate L&D must conduct regular trend analysis, provide specialized training to educate employees on new technologies, and encourage experimentation with new technologies and innovative practices to foster creativity and adaptability.
A growth mindset is a belief that intelligence and abilities can be developed through dedication and hard work. L&D teams can promote a growth mindset by:
As per a McKinsey report, approximately 87% of CEOs are witnessing skill gaps in their employees. Identifying and eliminating this gap should be one of the top agendas for the L&D function. This can be done by conducting skill gap assessments to identify current skills and customizing training programs to address specific skills. Implementing these strategies is not where the task ends; many organizations leverage certain metrics to track the impact of these L&D interventions to ensure employees benefit from the training investments which in turn meets business objectives.
The role of Corporate Learning and Development (L&D) in upskilling and reskilling employees is a transformative force that can convert an individual’s potential to proficiency. In a world where technology is reshaping industries and job roles, adapting and learning new skills has become a critical survival skill. Corporate L&D plays a pivotal role in fostering a culture of continuous learning by equipping employees with the necessary tools and knowledge to excel in their current roles and prepare for future challenges. By embracing upskilling and reskilling as top priorities, organizations can future-proof their workforce and create a competitive advantage in the market.
At Integra, we help L&D teams achieve excellence through our custom eLearning and microlearning solutions. For over 15 years, we have been supporting L&D teams across the industry spectrum to design innovative and impactful digital learning programs. Contact us to know more about how we can propel you in achieving your L&D goals!
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