It’s time to get ahead of the curve. The McKinsey Global Institute report says that 62% of executives believe they will need to retrain or replace more than a quarter of their workforce between now and 2023 due to advancing automation and digitization. The workplace is evolving and everyone realizes retraining is a better option – employees stay employed and employers retain their institutional knowledge. Plus, the fact is, there simply aren’t enough new employees with cutting edge skills to go around. For instance, Salesforce is putting approximately 3 million more jobs in the market in the next 4 years. There are 4 postings for every one candidate for a Salesforce Administrator.
Why are they doing it?
The reskilling route also leads to stronger company culture, along with loyalty to the employer. Once word is on the street, it’s also a great way to attract future employees.
If the employee has the business and soft skills, it is much easier for an organization to invest in training on technology specific skills. This implies the employee will need constant access to training along with incentives to continuously be reskilled.
“Your organization is moved by the skills that you have. The evolution of individuals in a company ultimately translates to the evolution of a company.” – Matthew Sigelman.
Why is reskilling so urgent?
The shortage of digital talent has companies rushing to acquire as much talent as they can, however only 11% of companies want to invest in training and reskilling their teams. This strategy often leads to unnecessary layoffs so it makes the most sense for organizations to look internally to build their own digital labor force.
Another reason reskilling is also urgent is because many of today’s corporate jobs are going away. There are 6 million jobs in office administration across the globe that will be displaced by technology. There is a big initiative to level the playing field for people in need of retraining. Many of the skills are technical skills as well as soft skills like project management, customer management and overall business skills.
So What will your company do?
Keep ahead of the curve and put your hand up when called upon to learn something new to add to your tool belt. When there’s education or training reimbursement, take advantage of it and go get a certification, or something new to make yourself more valuable to the organization.
With technology rapidly changing, companies need to be prepared to provide the tools to constantly re-skill their employees for new and emerging roles. If they don’t, they face the possibility of being left behind with workers who have a mismatch in their current skills and do not have the actual skills needed to do their jobs.
About Brad and Karey
Karey Larson and Brad Mosch have been in recruitment in the technology space for 20 years.