08.03.2021 Week 18 Text Reskilling and Upskilling

Warm-up Qs:
- Do you know what long-life learning is? Do you know it’s really needed?
- What are the advantages / disadvantages of digitalization in your professional life?
Reskilling and Upskilling: A Strategic Response to Changing Skill Demands 1
The 2018 Future of Jobs Report from the World Economic Forum predicts that 75 million jobs will be
displaced by 2022 in 20 major economies. At the same time, 133 million new roles are expected to be
created, driven by advances in technology and continuous digital transformation. As demand for new
capabilities gathers pace, reskilling and upskilling can enable your organization to develop the skills needed
to remain competitive. Both are now effective strategies for employers to combat what is expected to
become a perennial skills shortage.
Upskilling is the process of acquiring new and relevant competencies needed today and in the near future.
Common examples of upskilling efforts include digital skills, analytics skills, and organizational
transformation skills.
Upskilling has become increasingly relevant over the past years. There are several reasons for this but the
most important one is the growing (digital) skills gap many companies are facing; the difference between
what employers want or need their employees to be able to do and what those employees can actually do.
The main causes of the current skills gap are:
 Skills gap due to an aging workforce. The baby boom generation has been – and will be – retiring for
a while now. Naturally, this creates a gap, both in terms of open positions that are hard to fill, and in
terms of skills and knowledge that get lost in the process.
 Skills gap due to digitalization. We’re currently in the midst of the so-called fourth industrial
revolution. Developments in fields like artificial intelligence, robotics, and other technologies are
happening faster and faster, hence changing the nature of the jobs that need to be done – and, by
extension, the skills needed to do those jobs.
Upskilling your workforce via your learning and development (L&D) program is probably the most obvious
way to go, by : Job rotation, Job enrichment- adding extra dimensions to existing jobs (increasing skill
variety, creating more autonomy, and giving feedback), peer-coaching and peer-mentoring.
Digital upskilling is vital and employees should not feel frustrated. Professional life changes fast and the
covid19 pandemic showed the advantages of working at remote locations.
Reskilling means looking for people with ‘adjacent skills’, that are close to the new skills your company
requires. It provides a lateral learning experience. The World Economic Forum estimates that over half of all
employees (54%) will require ‘significant’ reskilling by 2022.
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https://www.digitalhrtech.com/upskilling/
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A culture of upskilling, on the other hand, means teaching employees new, advanced skills to close talent
gaps. It involves your team members in continuous education and helps them to advance along their current
career path. These employees may have worked for your organization for several years and possess an in-
depth understanding of both your culture and your customers. While two thirds of organizations believe that
workforce development programs will help to address the skills gap, they are slow to take action due to
financial constraints and the lack of suitable technology to support internal initiatives. Without taking action
now, however, your company’s ability to meet its long-term goals are at risk if you do not have access to the
skills you need.Four out of five CEOs identified their employees’ lack of essential skills as a threat to
growth in PwC’s 22nd Annual Global CEO Survey.
Both reskilling and upskilling strategies can be introduced into your business by creating a career pathing
program. Career pathing is the process used by an employee to chart a course for their personal career
development. Successful career pathing strategies are derived from a competency-based approach. This
allows your organization to evaluate and assess the specific competencies required for each unique role and
understand the skills development required for employees who are moving into new positions. A career path
is personal to each individual employee and helps them to break down the steps needed to achieve their
long-term career goals and progress their career either laterally or through promotion. It requires an
understanding of the knowledge, skills and personal traits required and helps to identify the specialized skills
and additional training needed to fulfil those aspirations. Introducing career pathing into your organization
brings with it several advantages, including: Meeting future demand: Identifying the capabilities already
available enables you to target the development of key skills in your existing workforce to meet future
demand. Identify hidden skills: Career pathing empowers your employees to detail and assess their own
skills, revealing potential the business may not be aware of. Create a culture of talent mobility: Today’s
talent looks for employers with a commitment to their future career development. Not only does a career
pathing strategy attract talent to your organization, it increases motivation and retention levels among your
employees. Career pathing also creates internal movement, both laterally and vertically, and visibly
demonstrates that your organization values its people.
As the speed of digital transformation continues unabated, an effective career pathing strategy is beneficial
for both employees and HR and must be a talent imperative for your organization.

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Reskilling and Upskilling: A Strategic Response to Changing Skill Demands 1

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