Hiring has historically been the most common tactic for addressing skills gaps. It is also extremely expensive (as high as 3x a yearly salary according to some models). Contrast that with reskilling which is becoming increasingly cost-effective and scalable. Advancements in technologies and delivery methods have created whole sub-sectors of learning and development that are affordable, easily accessible, and relevant. This has enabled a seismic shift in the way learning is delivered in places ranging from the boardroom to the classroom.
Even before the crisis businesses were beginning to take notice. Chief Learning Officers (CLO) were finding it more cost-effective to skip the executive off-sites in lieu of to train-the-trainer scenarios or cheaper (or free) online paths. They also realized that it’s not just about building new skills (skills that can be bought — and copied — by competitors) but rather creating whole cultures around learning and incentivizing growth. Closing these knowledge gaps allowed automation to empower, not hinder, their workforce. Employees were tuned in to this as well, with training and development programs routinely identified as one of the most effective ways to retain (and develop) top talent. The current COVID-19 situation has, again, only exacerbated this. A recent Salesforce survey found that almost 60% of employees stated they wish they had a better or more up-to-date skill-set.
So we know gaps exist, and we know both employers and employees want and can benefit from the skills needed to fill these gaps. But exactly what are those skills, and what resources are available to learn them?
Read the full article on ZDNet.