The reskilling strategy to future-proof your workforce
Workers with college degrees and specialized training once felt relatively safe from automation. However, a recent NYT report paints a concerning picture. Even traditionally disruption-proof jobs such as accounting are not safe from the threat of automation.
The emergence of RPA and other automation solutions has lent a sense of urgency to enterprise reskilling initiatives.
However, as years of experience have shown us, reskilling has not turned out to be the savior that everyone expected. What went wrong? Has reskilling been over-hyped? Or are enterprises simply not implementing it correctly?
The Reskilling Struggle: Why Companies Fail
Industry analysts estimate that over 40% of reskilling efforts started in enterprises ultimately fail to yield satisfactory results.
Such a staggering failure rate for what is touted as a cure-all for the upcoming talent shortage is indeed shocking.
These same analysts then go on to note that the failure is not because of the shortcomings of reskilling itself, instead, the errors lie in the way it was implemented.
In other words, talent management teams lack a robust reskilling implementation framework to
- Identify disrupted job roles
- Map out career paths for these disrupted job roles
- Explore & curate learning modules and training programs to re/upskill and
- Measure the outcome of their reskilling programs.
Implementing Reskilling Correctly
Unfortunately, in most talent management teams, employees are left to their devices to pick and choose their next career stop without offering them any data-backed advice.
From hiring consultants to seeking guidance from industry experts, several solutions exist to solve this problem. But these are often expensive and not scalable.
This is where artificial intelligence-powered talent intelligence platforms like Draup for Talent shine through.
Draup has analyzed over 4 million career paths to create the ideal reskilling framework for talent management teams. Reskilling stakeholders can now implement end-to-end reskilling solutions within their organizations using a powerful data-backed framework that takes all the pain out of reskilling.
We have extensively covered the framework in action in this whitepaper.
- First, we use the talent dashboard to identify roles that are under threat of disruption from emerging technologies.
- Next, based on our proprietary Reskilling Propensity Index, we choose the ideal target role for this individual to develop a sustainable career in.
- Lastly, the framework generates the skills gap analysis and provides courses and certifications to fill this skills gap.
Since all of these are done on an intuitive cloud-based dashboard, stakeholders can export and even share relevant data across teams.
The image below shows how the framework works for the sample transition of Quality Assurance Engineer to Automation Control Engineer.
Reskilling to meet your enterprise talent goals
COVID-19 has thrown a daunting yet pertinent challenge to companies – an expedited digital transformation timeline for all, irrespective of their current capabilities. Upskilling and Reskilling employees’ significance has increased manifold, especially in the current volatile, uncertain, complex, and ambiguous business environment. Companies that do not take this time to upskill their employees will soon find themselves in a vulnerable position. As we step into this new normal of a hyper-digital, remote-operating world, investing in employee reskilling and upskilling will be par for the course, with big returns and an edge over peers as the outcomes.
Vijay Swaminathan, CEO & Co-Founder of Draup, will conduct a session on RESKILLING – AN ESSENTIAL POST-PANDEMIC TALENT IMPERATIVE
This session will provide insights on
- new skills and competencies that will be needed to compete in the new normal,
- how employees and organizations can identify the gaps in key skillsets,
- and the different ways in which companies can enable upskilling and reskilling in the remote setup.