How to bridge the Skill gap to future-proof workforce: Upskilling and Reskilling 

Research published in the Harvard Business Review in 2019 found that out of an observed group, 70 percent lacked the required skills to do their jobs effectively. The skill gap has become an Ozone for companies to fix. They carry a hampering element with them that mostly targets workplace efficiency and overall productivity. But what is a skill gap and why does it persist in the first place?

A skill gap is the difference between the current and the desirable competencies in a workforce. It results due to an eclectic mix of various factors – internal and external. The internal factors include elements like AI, the post-pandemic industrial revolution, automation, and heavy reliance on data-driven technology. The external factors involve changes in company goals and structural or administrational changes.

To remediate these issues what we need to do is future-proof the workforce:

The question that most people have in their mind is, Is future-proofing even a thing? Yes, it is. It refers to an end that organizations across the world seek to make sure that they are armed with the defense of a future-ready workforce in the face of the upcoming technological changes. Future-proofing the workforce reliably fixes the skill gap.  

There are multiple ways, but before rushing into the solutions, you need to identify the skill gaps. This can be done using the skill-gap analysis.

First, assess the employee skills required, keeping your business objective in mind. The processes inherent in the skill-gap analysis, like building a skill taxonomy, ensure that skills are defined and categorized consistently across the organization or industry. Thus, reducing ambiguity and bringing better clarity.

McKinsey and Company suggests using 25-3 employee skills and 5-10 specialist skills covering different business aspects. You can use skill analytics and expert insights to expedite the process.

A skill-gap analysis thus allows HR and L&D managers to identify the difference between the skills required and those existing. Once they have understood where they lack, they can invest in the right training and development programs for upskilling and reskilling.

Upskilling and reskilling programs are key to maximizing the productivity of any workforce. They empower individuals to adapt to evolving work environments. This has salutary consequences for the company. For instance, driving themselves and the company toward success. The difference between them lies in company goals. If the company wants an employee to excel in their current or given role, then upskilling programs might be introduced. On the other hand, if it wants to induct the employee into a new role, reskilling would be the way to go.

An efficacious way to carry both objectives would be through e-learning solutions in micro-content format. This provides an agile, flexible, and learner-centric approach, best suited for the fast-paced demography of today.

Are you an organization looking to upskill its workforce and drive growth and efficiency into your workforce? If yes, you can leverage our microlearning platform tailored to the requirements of a diverse workforce. The easytounderstand modules can be watched on the go by employees regardless of their profile and can generate an engagement rate never seen before.  

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Another upside to introducing upskilling and reskilling programs is the trackability of their success, which can be done via the help of Performance Management Systems. This data-driven tracking can help align individual and team efforts with organizational objectives, thereby driving overall productivity and success.

Skill-based hiring allows companies to be in line with company ambitions. There is evidence galore to back up the fact that skilled employees are more likely to contribute to the productivity of the company. On top of that, they require less time and resources for training.

Skill-based hiring can leverage organizations to identify the specific skills they need and target candidates who possess those skills. In the long run, this can ensure that organizations have the talents they need to remain competitive.

The skill gap may be a looming challenge for organizations, but it can be dealt with. Organizations can identify inherent problems and then future-proof their workforce using training programs tailored to their specific needs. In today’s world, where an invention happens as we speak, preparation is the key, and keeping up will help you stay afloat.

After all, luck is when opportunity meets preparation.