Reskilling Programs are on the Rise

August 31, 2023by Jennifer Murray0

With the Internship program in your rearview, it is time to shift the focus to reskilling the current team. Let’s look at why these programs have become a business imperative.

First, exit interview data indicates that team members cite a lack of development as one of the top reasons they leave an organization. They are looking for ongoing development, enrichment, and growth opportunities.

Secondly, forward-thinking organizations recognize that the skills they need in the future are different from the skillsets they needed in the past. Gallagher surveyed 4,000 organizations and reported that 38% of employers increased the importance of career wellbeing in 2023.

In a survey of AESC members that identified the top factors that are pushing the new face of work, 65% indicated there is a need for new skills and capabilities for leadership roles. Changing business models, expansion into new lines of business, aging workforce, drive for increased diversity, and need for sustainability expertise followed.

The Harvard Business Review, “Reskilling in the Age of AI,” article explains how technology has driven the need for new skills. As technology automates and simplifies workflows and business processes, team members need to upskill in their current roles and reskill for new roles to continue to add value and drive the business forward. As a note, AI is a contributing factor, but a wide range of technologies have prompted leaders to forecast their resource needs and develop programs to meet future needs. From McDonalds to Ericsson to Amazon, reskilling programs are gaining momentum. Ericsson upskilled team members on AI and automation over a multi-year period. “ICICI Bank—headquartered in Mumbai and employing more than 130,000 people—runs an intense, academy-like reskilling program that prepares graduates, often from diverse backgrounds, for frontline managerial jobs.”

How would a reskilling program enhance your employee value proposition? Recently, we have seen some business sectors roll out a series of layoffs. One multinational firm announced they would release impacted team members on a monthly basis. That strategy creates a long period of angst and negatively impacts productivity. Launching a reskilling program is good news for current team members that are concerned about becoming obsolete or about to lose their jobs due to AI. The organizations that invest in these training programs are demonstrating an alternative to layoffs. They are choosing to develop their current team members to help them extend their career journeys. The team members that take advantage of the opportunity will learn that AI can be additive, rather than disruptive.

Think about the manufacturing sector, as an example. When I visited the BMW plant in Munich in 2015, I stood on a high platform overlooking the plant floor. All I could see was a massive room of active machinery. There were no humans in my line of sight! It was clear that the needs for human resources in a production environment has evolved immensely over the decades.

The Manufacturing Institute produced a report in Q42022 and shared some key findings: future team members need greater data analysis skills, strong interpersonal and communication skills, critical thinking skills, and an agile mindset. In addition to offering upskilling and reskilling programs, apprenticeships will help to fill open roles with trained team members.

Perhaps reading the HBR article on the major resource investment, creating a skills inventory, requisite change management plan, time off the job, and skill-matching sounds daunting. Building a program is not like implementing a mandatory training course. It is likely to be a combination of courses, coaching, and mentoring. Plan on working with a team of people, investing time during the planning stages, and ensuring that you consider the perspective of your team members. For example, offering online coursework they can take after hours may not be feasible for some of them. Fortunately, you have the option of breaking programs down into short nuggets for easy consumption.  Additionally, there are a wide range of learning management platforms and technologies that support accessing eLearning modules from desktops and mobile devices to meet your team where they are.

Are you ready to energize your team and prepare for the future? Give us a call!

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Headquarters
230 Hampton Woods Lane, Suite 101 Raleigh, NC 27607
Satellite Office
2929 Breezewood Ave. Suite 101, Fayetteville, NC. 28303
OUR LOCATIONSWhere to find us
https://onboardwithus.com/wp-content/uploads/2021/07/img-footer-map1.jpg
https://onboardwithus.com/wp-content/uploads/2023/03/Veterans-at-work.jpg
Headquarters
230 Hampton Woods Lane, Suite 101 Raleigh, NC 27607
Satellite Office
2929 Breezewood Ave. Suite 101, Fayetteville, NC. 28303
Where to find us
https://onboardwithus.com/wp-content/uploads/2021/07/img-footer-map1.jpg