The world of work is going increasingly digital, virtual and tech-enabled. However, in such a fast-paced business landscape, the widening tech skills gap between industry demands and the skills existing within the workforce has made employees' tech upskilling critical in this era of technological advancements. In our latest TTalks video Urgency of Tech Skilling for the Corporate World, I discussed some of these pressing demands and how organizations need to upskill their workforce as a move towards future-focused jobs to build a competitive and successful business.
Having a highly-skilled workforce is undoubtedly a defining factor in the success and failure of a business, and according to the European Commission, there could be close to 756,000 unfilled jobs in Europe’s ICT sector alone by 2020; not to mention a minimum of ‘133 million’ new roles that will be created based on emerging technologies by 2022, with a strong demand for tech skills.
Sustaining business in a VUCA world
In such a scenario, the quick-fix would be to find the right talent to fill the tech skills gaps. However, talented employees are always in high demand, while the skills they possess today might not be competitive in a few years. As new jobs are created and skills demand shifts, today’s existing workforce won’t be able to meet the industry demands of the future. The point being, businesses can’t always resort to hiring newer employees to future-proof the workforce.
Fortunately, HR and L&D pros do have other options to build a future-proof workforce by investing more in their employees’ skills development right away by leveraging the available tools, technologies and innovative solutions to foster skills development within the existing workforce.
Tech upskilling through online training
There is an abundance of training options available to businesses today. With the world going virtual, the go-to option remains online training through tools like a Learning Management System and online learning content providers like Plethora that are actively helping businesses tackle the challenges of tech disruption by providing innovative skilling solutions and in-demand courses, including fields such as AI, data science, machine learning, blockchain etc.
With the help of such tools, businesses that are able to successfully upskill their workforce are sure to “harness new and emerging technologies to reach higher levels of efficiency of production and consumption, expand into new markets, and compete on new products for a global consumer base composed increasingly of digital natives”, says the World Economic Forum.
It is also important to note that a one-size-fits-all approach to future-proof the workforce is not practical, and only by enabling employee upskilling and retention a priority can businesses thrive in this ever competitive and volatile corporate world.
Check out the video to gain more insights into the urgency of tech-upskilling for the corporate world.