According to a World Economic Forum report, by 2025, more than half of the employees globally will need to reskill or upskill.
This pressing need for employee development isn't a distant future scenario. Businesses are recognizing the necessity of preparing for shifting talent requirements and are proactively investing in upskilling and reskilling initiatives to close these skills gaps, with a notable 15% increase in organizational investments.
In this blog, we will delve into the significance of upskilling and reskilling, their profound impact on the workforce, and how these continuous learning strategies stand as foundational pillars in a forward-thinking, agile approach to both skill development and career advancement.
While often used interchangeably, upskilling and reskilling are two distinct strategies to enhance workforce competencies.
Aimed at expanding an individual’s skill set (both hard and soft skills) within their current role, upskilling focuses on adapting to industry advancements and enhancing performance. It is increasingly integral to performance evaluations in the contemporary work setting.
Read more about employee upskilling in the linked article.
Reskilling is primarily about identifying and training employees with additional skills for employees for entirely new roles in order to fulfill future demands.
With the digital revolution reshaping job functions, reskilling offers career paths for internal mobility, helping businesses maintain a positive, efficient work environment while curbing employee turnover.
Read more about employee reskilling in the linked article.
Ineffective skilling strategy: Without a clear plan aligning skill needs with business goals, L&D leaders struggle to create effective skilling programs for their workers. Strategy gaps hinder targeted new skill development, resulting in wasted efforts and missed opportunities for comprehensive employee growth.
Check how Disprz LXP transformed Deloitte skilling strategy and helped them achieve a 95% course completion rate.
Outdated training methods: Relying on conventional employee training and skilling methods limits engagement and relevance. These methods often lack interactivity, fail to cater to digital-native learners, offer static content, lack personalization, and overlook critical thinking development.
Limited Self-paced learning: Organizations often follow a push-based training method to impart knowledge to team members. This approach often employs a uniform curriculum, treating all learners the same, which can hinder progress by failing to accommodate individual learning styles and preferences. Additionally, it may restrict access to a finite set of resources, potentially missing out on diverse learning opportunities and personalized skill development.
Read how Disprz amplified self-paced learning at Petronas, boosting learning agility by 88%.
Hiring & Skilling program mismatch: Frequently, HR leaders and professionals in the hiring process prioritize higher educational qualifications over skills testing, resulting in a mismatch between candidates' abilities and job requirements. By neglecting skills testing, organizations may inadvertently overlook well-suited candidates without formal degrees while potentially hiring individuals with impressive academic backgrounds who lack the necessary hands-on competencies for specific positions.
As we witness the ongoing evolution of the professional landscape toward remote work culture, it is evident that individuals are increasingly expressing their fervent desire to acquire additional skills and knowledge along their career path.
When it comes to structured and forward-thinking approaches to skilling and career development, Disprz consistently leads the industry with innovative solutions and new technology. What sets us apart is our ability to seamlessly integrate skilling into enterprises through machine learning, user-friendly interfaces, and intuitive functionality, making skill development accessible and effective.
To efficiently implement a skilling program within your organisation, here are our top recommended strategies.
Assessment and Analysis:
Personalized Learning and training:
Skill development is vital in today's business world. Skilled employees are the backbone of any successful organization, driving client relationships, technology management, and growth. As the business landscape evolves, employees must keep up by improving their skills. However, a lack of accessible learning opportunities can hinder both employees and organizations.
Upskilling is crucial, and advanced skilling technology like Disprz LXP can help enhance your skilling programs and create a workforce ready for the future.
Check out how Disprz LXP can help your employees develop skills they can use right away.
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