As 94% of UK workers will need reskilling by 2030, a strong focus on retraining and retaining existing personnel has become essential for success. Strategically planned reskilling programmes to fill gaps in organisational skills now and for the future must be a key element of an organisation’s talent strategy.
As talent demand continues to outstrip supply and a digital skills shortage is exacerbated by one third of the UK’s ‘digitally literate’ workers being unable to even complete a single digital skill, it is not surprising that businesses report their number one impediment to growth is a lack of skilled talent.
Unfortunately, poor planning, low investment, weak programme engagement and high drop-out rates also mean many organisations see little ROI on internal training programmes.
Exacerbating these embedded issues are other agitating factors, with employers failing to appreciate that more than 50% of current jobs will require new skill sets by 2027, having poor understanding of the current and transferable skills within their organisation, and being unable to discern which type of training programmes they need and how to deploy them to achieve the skills they will need in the future. All of these problems must be set against the truths that 75% of completed reskilling and upskilling programmes are economically positive and they typically deliver productivity increases of up to 12% per worker.
Training to build and enhance an organisation’s workforce from within can pay off. However, it takes a well-planned approach to get there. Organisations should have full sight of the outcomes they must achieve before they can implement the training solutions that successfully provide the skills they need to meet their long-term strategy.
Source: World Economic Forum
Business leaders need market intelligence in a hypercompetitive labour market
Read on
Hiring alone cannot fixthe talent shortage
Insufficient available workers is the number one impediment to growth
Reskilling programmes need sharp planning, strong experience and a delivered outcome
Turning a problem into an outcome-based solution
Planning is key to success
Putting theory into practice – reskilling case studies
