By Prangya Pandab - June 05, 2022 4 Mins Read
Businesses have never been more reliant on technology, as witnessed during the global pandemic. Organizations must reassess their approaches to work and retool their corporate structures to leverage new technologies fully.
Organizations are rethinking their workforce demands to reap the benefits of AI. Successful companies invest time and money in reskilling and upskilling their workforce to enable AI and leverage the technology strategically. The workforce must be taught how to extract insights from AI and use it for complex problem solving and strategic analysis. Employees who work for companies that use AI are more likely to be creative and innovative, which are essential skills to have to meet the shifting nature of the industry.
Companies that successfully implement reskilling programs are better positioned to fill the skills gap. Businesses that prioritize a skills-based approach for both hiring and existing talent development have a better chance to leverage in-house talent and develop the infrastructure to support continual reskilling and upskilling activities and more effectively bridge the technology gap.
When it comes to reskilling workforce talent to better respond to technological advancements, businesses can consider the following factors:
Aligning People and Business Objectives
Hopefully, the company isn’t just jumping on the latest technology bandwagon but has strategic goals for deploying new technologies. These business objectives should help organizations decide which people skills to prioritize in the future. For instance, a company’s goal is to give customers a smoother digital ordering experience. Businesses may wish to retrain sales representatives to manage technical troubleshooting or customer support in this circumstance.
Determine the Skills Gap
Following the alignment of people and company goals, executive leaders must assess their current workforce to identify skill gaps. Who has the expertise they require already? Who could be trained to fill in the gaps when crucial skills are lacking? They should use predictive analytics technology to determine the employees most likely to quit vs. those most likely to gain from reskilling so they don’t waste time and money.
Test Various Training Initiatives as Necessary
Leaders will need to regularly review and optimize the learning program for it to be successful. To track outcomes over time, they should determine essential metrics such as time to productivity. They should not be reluctant to put diverse training initiatives to the test and compare their results. Similarly, as business objectives change, so should training objectives.
Build a Talent Pipeline
Businesses should collaborate with educational institutions to ensure a steady stream of new talent as employees gradually leave or retire. Businesses can build significant connections with potential employees who have the skills needed at their company from day one by participating in their education.
Developing a Reskilling Strategy Based on Technology
The C-Suite is accountable for not only achieving business objectives but also serving as a champion for a technology-first approach that emphasizes the significance of keeping up with technological advancements. Organizations can leverage people data to discover business-critical skills and roles and areas to reskill that will produce the most value for the business, once talent strategy and business priorities are matched. One-time reskilling attempts, however, are insufficient.
Organizations will need to invest in continuous learning to keep their workforces agile and competitive. It is more important than ever for businesses to identify required skills and provide the necessary learning framework. This offers a solution that allows leaders to change the way people learn and work. Organizations can remain aware of the ever-changing technological requirements of the future to rapidly and successfully adapt by investing in and leveraging internal talent to enhance teams’ productivity and allow for skillful consumption of new technologies.
Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.
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