Beyond hiring: How companies are reskilling/upskilling to address skill gaps


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Acquired skills are highly sought after. When companies fail to recognize the value of training and development, they risk losing clientele. Skilled employees have a better chance of surviving in a cutthroat environment. Everyone in your workforce should have the opportunity to expand their horizons and find better opportunities. Nonetheless, the absence of a robust plan and training technology is a major contributor to organizations’ reskilling failures. Nuvepro can assist in the implementation of skill-based learning programs that leverage the efficacy of experiential education. 

The skills required by companies to survive, and flourish have shifted significantly as new technology and business strategies emerge at a breakneck pace. According to previous studies, 400 million people worldwide may need to change their careers in the upcoming ten years to meet employers’ expectations. Most firms prioritize addressing skill shortages, but few firms know how to acquire the necessary skills.

Just a few of those polled believe their firms are ready to deal with the effects of technological and market shifts on their workforce. The majority of respondents say that their firms are hiring people in an effort to prepare for future skill gaps, and some have made efforts to upskill their workforces: almost one-third of respondents say that their organizations have launched reskilling initiatives. 

Emerging Skill gaps and bridging the Skills gap 

Companies that invest in their employees’ skill sets are more likely to feel prepared for job changes than those that use other methods to bridge skill gaps. When asked about the best approach to fill in skill gaps within the next 5 years, most people said they would focus on continuous learning and upskilling rather than on hiring. In the face of anticipated skill gaps in the coming years, 50% believe that skill development will be the most effective measure for their firms, while 30% believe that hiring would be the most significant approach. 

Learners’ motive for attending the Reskilling/Upskilling programs 

Programs designed to reskill the workforce typically emphasize the development of analytical and cognitive thinking, as well as leadership and organizational skills. Many organizations have reskilled at least one team, are in the process of doing so, or have a pilot program in place to meet talent needs. While the majority of organizations with active or planned reskilling programs are confident in their ability to choose employees to retrain or reskill, most scepticism is directed toward the effectiveness of the programs themselves. 

Planning ahead 

Companies who have not yet begun the process of reskilling their workforce should think about adopting the following steps: 

Figure out what skills you need.  

Companies may not realize they have skill gaps, but they do. An analysis can demonstrate which skills the workforce has, and which will be needed. Companies need to evaluate the availability of each skill against the strategic skill requirements of the organization to determine which skills should be prioritized for training. 

Learn to think strategically about bridging gaps. 

The onus is on companies to determine the best course of action to close each gap. Hiring new people and retraining/reskilling existing employees with new skills will be necessary to fill most roles. There are a variety of strategies that may be taken to improve the quality of the workforce, but each one requires a decision about which specific programs or projects to undertake.

Selection of candidates is also part of this choice: who should undergo retraining first? Meanwhile, businesses need to get their employees ready for change by outlining the reskilling agenda and how it will affect their future roles and career paths. 

Incorporate the learning strategy into the workforce 

Results from any attempt to upskill can be enhanced by employing the strategy of learning, “learning in the flow of work “. The learning process should be organized in such a way that employees can take what they’ve learned and use it in their tasks.

Trainees should work on projects that provide them opportunities to put what they’re learning into practice and be placed in a group with people who have similar levels of experience in the workplace. Here is where the hands-on training programs provide ample guidance in preparing a project-ready workforce. If your company is experiencing skills gaps now or shortly, Nuvepro is here to help. 

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