Upskilling and Reskilling are the name of the game
It is a misnomer that that training is limited only to the early years of one’s career and that most other skills can be acquired while on the job. “In our experience, reskilling is relevant to every generation that’s in or entering the workforce. In fact, 55% of employers feel the skills shortage is causing an inability to innovate effectively, according to a recent PwC study.” By 2020, approximately 80% of all job roles will need digital competencies and as of now only a fraction of the workforce is digitally savvy.
While many universities may limit soft skills training into classroom exercises, the industry wants this skill gap to be addressed at the earliest. Very few job-seekers know that after cloud computing, creativity is the second in-demand skill in the world. It is no surprise that forward-looking employers are ready to invest in L&D initiatives that encourage soft skills like creativity.
Organizations can ill-afford to wait for universities to produce the talent they need. This, in effect, means taking the initiative on reskilling. Innovative technology and communication channels are changing the landscape for learning and development. A clear strategy for matching skills gaps with training is a must. So is closer involvement with educational institutions a necessity since the business has an important role to play in encouraging a shift in the educational syllabus. No wonder, employers are investing in skills that cannot be developed in a classroom setting.
The purpose of L&D isn’t just to help a person do their current job better. Instead, upskilling and reskilling must boost one’s overall employability, enriching professional growth path. Companies need to invest in dynamic L&D tracks, which in turn allows an employee to focus on their area of choice. Until all the stakeholders that include the industry, universities and L&D professionals sit together to find a way for peer learning, the skill gap will be hard to bridge.