Being Market-ready: Trends In Employee Upskilling

Shreyasi Singh Sep 29, 2022

Learning and skill development in the workplace came to a sudden halt after the Covid-19 pandemic struck the world in 2020. The unprecedented crisis pushed businesses across sectors into survival mode. Enterprises had to restructure themselves so that employees could benefit from whatever revenue or profit was generated at the time. This quagmire of crisis has only deepened in the post-pandemic world, and with it, the importance of upskilling, which is beneficial for both employees and employers.

As the job market in India is changing with the advent of new-age tech across sectors, 40 per cent of Indian employees will need reskilling and 60 per cent will need upskilling, according to one report. To understand how businesses are hiring employees and with what expectations, let us have a look at some of the trends in upskilling today:

Focus on millennials: The younger generation is keener to upskill themselves

Technology is advancing at lightning speed and rapid digital transformation since the pandemic has created a need for more tech-savvy employees. There are high expectations, especially from the younger generation to train themselves in the skills required in the post-pandemic world. India has a high percentage of millennials, who comprise over 34 per cent of the country’s population. According to World Economic Forum (WEF), 50 per cent of employees around the world need to upskill or reskill by 2025 to embrace new responsibilities driven by automation and new technologies. Their findings also suggest that the workforce doesn’t upskill themselves; it could take decades for them to be prepared for the future of work. Thus, the younger workforce is demanding upskilling opportunities from their employers. Millennials are entering the workforce with clear goals today. Most of them have a mapped path to success and are seeking tools to enhance their potential for career growth.

Employers giving unrestricted access to employees to upskill themselves

A company may run the risk of losing top talent if it fails to provide upskilling opportunities or resources to its employees. The modern employer is aware of this trend and is now racing to ensure that workers have ample upskilling opportunities. The trend is more visible in sectors like BFSI and IT, where employers are focusing on enabling employees to acquire new skills and progress faster up the career ladder.

Today, upskilling is not restricted to on-the-job training alone. Companies are reaching out to professional skill development and education firms to ensure that they have the best talent on board. These firms are providing the necessary education and training to employees, helping them understand the nuances of their respective fields and making them future-ready.

Remote and on-demand learning/upskilling

With individuals working away from the office, the demand for remote learning has increased manifold. Employers are honing the skills of their workforce by creating an environment of continuous growth and learning. On-demand e-learning is also providing newer opportunities to enhance the learning experience and outcomes by harnessing the benefits of gamification and artificial intelligence (AI).

The pandemic has highlighted the value of social learning

Social learning has evolved as a smart and affordable solution for companies that have modest budgets but want to provide upskilling opportunities to their employees. Social learning brings individuals from different locations to share learning and development and grow together. This could be in the form of social forums, online discussions, and more. This trend has been able to bring a sense of togetherness and unity among employees and ensure that every individual knows they are valued and remains engaged.

People analytics to provide real-time monitoring of upskilling benefits

It has always been difficult to monitor the impact of upskilling and reskilling employees. The lack of metrics in this regard can affect the scope of adapting or improving training materials or methods. To tackle this problem, e-learning companies are using people analytics software to provide real-time monitoring of how successful remote learning and development has been from the perspective of an organization, team, or even an individual.

People analytics is the application of talent data to improve critical talent and business outcomes. It enables HR leaders to develop data-driven insights to inform talent decisions, improve workforce processes and promote a positive employee experience.

There has never been a greater need to upskill employees, with the pandemic changing the way we communicate, work, and grow in remote settings. Both employees and employers need to adapt themselves to changing scenarios marked by technological disruption and digital transformation. Relevant upskilling can deliver great value, both to individuals and to companies. It can help retain rich talent and create a work culture that is positive and growth-oriented.