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Reskilling and Upskilling

How Leaders Are Enabling Employees For The Future

By 2030, a quarter of American jobs will be at risk because of the pandemic. The coronavirus has disrupted and displaced millions of white-collar workers. 

Employers have a sensitive responsibility here.  

When working on creating a positive employee experience in this tumultuous climate, employers must manage perspectives, expectations, and outcomes of employees.  

Thanks to technological advancements in behavioral analytics and communication channels — employers can prepare employees for current and future roles by strengthening the chords of empathy, goodwill, and wellbeing.   

Self-evaluate and proceed 

Employees understand the process and importance of self-evaluation. But do employers understand the significance of self-evaluation? 

The disruption has forced employers to self-evaluate. Self-evaluation will help employers help employees achieve their short-term and long-term career goals.  

Employees self-evaluate their strengths and weaknesses. Likewise, employers must self-evaluate their strengths and weaknesses concerning its workforce.  

Follow the herd 

The Fourth Industrial Revolution – ‘AI’ and ‘automation’ will permanently uproot 54% of all jobs by 2022.  

Jobs are based on skills. When a particular skill is not required anymore, there is no longer a need for the job.    

It is all about having relevant skills. JP Morgan has it right.    

The American multinational investment bank and financial services believe that skills matter more than degrees in a post-pandemic world. 

Automation will wipe out 85 million jobs across 15 industries in the next 5 years. Companies are reskilling and upskilling employees to keep them ready for in-demand roles in the future. 

Ernst & Young did not waste time in understanding this dire need to reskill and upskill its employees.  

Earlier this month, EY acquired Spotmentor Technologies, an end-to-end skilling platform that helps businesses identify skills required for future work, upskilling, and reskilling. 

Amazon’s MLU (Machine Learning University) will help its employees (with a technology background) to learn Machine Learning.  

The pioneer in AI, IBM, had introduced SkillsBuild, a platform to identify job skills and employment opportunities for members of disadvantaged communities in 2019.  

Verizon has invested $44 million in upskilling programs for its employees.  

Consultant firm, PwC, has earmarked $3 billion towards reskilling its entire 275,000 workforce. 

It is important for employers to invest in reskilling and upskilling programs in the fields of cloud and digital because the investment is the means to an end.  

The skills that employers are investing in for their employees are the skills that employees will be required to have for performing tasks in the new and evolved working requirements. 

Retain value efficiently 

Finding that a certain skillset is not relevant anymore can be demoralizing.  

Edelman’s worldwide survey of 30,000 people revealed that 59% of employees were not concerned about acquiring new skills to keep their jobs. The same survey also showed that 55% of employees were very much worried about automation and technology making them obsolete. 

UNI Global, a global union federation for skills and services headquartered in Switzerland, feels that a tripartite solution that involves unions, businesses, and governments can make much difference in the reskilling arena.    

Some jobs are not destined to handle any amount of reskilling or upskilling. The only way reskilling and upskilling can stand to be of mass benefit is when policymakers and employers are on the same page. 

Prepare for the change 

Not all skills can be automated, at least not in the foreseeable future.   

Sectors that rely on the human interface, such as hospitality and management are immune to being automated, at least for the time being.  

AI is expected to reach human intelligence levels in the next ten years. It is essential to embrace technology and learn new skills that evolve along the way.  

Upskilling and reskilling will lessen employee turnover and allow the organization to fill the talent gaps from within.  

In the new world order, companies require a workforce with adaptability and evolved skillset. In such circumstances, Draup allows you to retrain employees based on current skillsets and reskill them according to the changing work landscape.