As we experience a modern-day Industrial Revolution, re-skilling is quickly becoming crucial to every employee in every company. As the pace of digital growth accelerates, the skills we use in the workplace become increasingly obsolete. People must upskill more frequently to keep up with the changing needs of different industries. According to the World Economic Forum, by 2022, at least 54% of all employees would require re-skilling and upskilling to respond to changing job requirements.
Re-skilling is becoming a valuable skill in and of itself since a person’s capacity to learn, adapt and modify is becoming almost as vital as their core professional skills. Businesses must address the changing skills gap in their organisations and equip their staff for both the broad changes in the industry and deeper, more specific advancements.
The Role Of Reskilling The Workforce In This Digital Transformation Era
Businesses have gone “digital” seemingly overnight post-pandemic; consequently, working from home has become popular. Tools are changing. Customer expectations are continually shifting, creating a skills vacuum within organisations. In other words, the world is undergoing a technological revolution, and the business landscape is continuously evolving. Individuals must consistently be re-skilled and upskilled to establish a digitally advanced and up-to-date workforce.
IT Skill Gaps Post COVID
Even before, COVID companies listed digital/technology disruption as their top business priority and had already begun acquiring the people required to implement this tech transformation. However, COVID has elevated digital efforts to digital imperatives, making the IT Skills gaps pressure HR directors collaborate with their chief officers to rethink skills requirements as business models shift at a breakneck pace.
Post-COVID, McKinsey & Company found that 87% of companies are either experiencing a skills gap in their workforce or anticipating one within the next few years.
Technology skills no longer have a strong focus in IT; instead, they must be “marbled” across organisational roles and businesses and combined with soft skills to successfully implement transformations.
Need To Fill The Skill Gap In The New Wave Of Digitization World
In the post-lockdown period, digitalization has become critical to corporate sustainability. Businesses who are quick to adopt new technologies may emerge as market leaders, with highly skilled resources becoming critical to their success. Employees must constantly upskill themselves to prosper in today’s tech-driven work environment.
Enhanced employability, improved collaborations between peers and senior management, increased creativity and innovation, increased agility, and redundancy protection are just a few of its benefits. To maintain a steady career path, it is vital for IT professionals, particularly those in the technology industry, to upskill to meet the requirements of a dynamic labour market.
Reskilling To Adopt New Technologies
Most administrative and clerical positions that technical supervisory experts formerly controlled are now being challenged by AI (Artificial Intelligence) and ML-based (Machine learning) automation. The lockdown, on the other hand, has accelerated the rate of digital disruption. Almost every business had to go online and increase its internet presence.
This shift in thinking has increased the demand for trained professionals knowledgeable about these digital innovations and technology.
The Demand For Technology Skills
The most in-demand technologies in the digital landscape right now are artificial intelligence, data analytics, robotics, and blockchain. Regardless of their work domain, IT professionals should strive to equip themselves with at least one of these technologies to adapt to their organisation’s changing needs quickly.
Steps In Addressing Skill Gaps
Here are some steps that can be followed to address growing skill gaps:
- Skill Gap Analysis: Analyse and predict skill supply and demand
- Acquire Talent: Acquire talented individuals from outside the organisation with the right skills.
- Talent Migration: Source through talent solution platforms
- Hybrid Model: Combine hiring specialised skilled contractors to fulfil short-term needs with developing the necessary skills internally
- Continuous learning: Encourage an internal learning strategy for employees through educational programs/platforms
- Leverage Talent Through Ecosystem Partners
The Elements of a Digital Transformation
The Elements of a Digital Transformation include the following:
- Strategy: A digital transformation strategy for end-to-end transformation
- People: Reskilling employees to meet new goals
- Processes: Optimising current processes to improve performance such as increased speed, efficiency, accuracy, etc.
- Culture: Organisational culture should encourage adopting a more digital-oriented mindset that fosters flexibility, volatility and adaptation.
The Role of People in the Transformation Roadmap
In the Transformation roadmap, people by far play the most important role. Whether you’re migrating to the cloud or implementing new collaborative technology, it’s apparent that putting people first is critical to success. Employee fatigue or a lack of re-skilling toward your transformation goals could indicate that it’s time to take a closer look at how your teams are skilled. Employees and customers must be put at the forefront of these efforts.
Changing customer values and expectations is an essential part of the transformation process. Companies must invest in re-skilling their people as the most efficient and effective way to survive these volatile times.
Digital Transformation Pathway
A comprehensive Digital Transformation Pathway will include the following stages:
- To determine a business strategy for dealing with the changing needs, layout provisions to foster re-skilled talent within the organisation as a lack of industry-ready talent is the leading block in digital development.
- Examine and adapt existing digital solutions that can help the organisation modernise various operations, boost productivity, and collect data.
- Agile and lean management training and coaching will aid in the transformation of the company’s outmoded, bureaucratic processes, allowing it to move toward more experimental, data-driven decisions making. Companies that use a lean, agile management model can be nimble and ready to capture emerging opportunities with quick decision-making.
- Harness new digital technologies such as data analytics, big data, artificial intelligence (AI), the Internet of Things (IoT), and robotics to maintain operations lean and efficient, as well as to enable data-driven business decision-making.
- Create a learning organisation that is constantly updating its knowledge and abilities in order to match the latest market demands, leverage the power of new technologies and processes, attract talent, and become industry leaders.
We now understand how critical it is for firms to zealously and consistently transmit relevant skills to their workers. This process of developing a future-ready workforce begins with assessing an organisation’s present skills landscape, which is where Aglisium can assist you. Agilisium provides end-to-end talent solutions for enterprises to bridge skill gaps and assists organisations in developing a successful digital strategy. Agilisium provides AWS talent solutions to help your business meet the needs of this new digitalized era. Visit our digital platform cocreator.world to begin your digital transformation journey today.
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