With the Fourth Industrial Revolution on our heels, more and more jobs will be eliminated; require upskilling or reskilling to keep the labor force stable instead of turning and churning.
In January 2020, the World Economic Forum announced the launch of Reskilling Revolution – a multi-stakeholder initiative aiming to provide 1 billion people with better education, jobs, and skills by 2030. Their plan – to future-proof workers from technological change and help economies by providing new skills for the Fourth Industrial Revolution. It was designed to provide businesses and economies with the skilled workforce required to fill millions of new roles which will be created, shifts in the global economy, and transitions toward sustainability.
With the world moving deeper into the ‘new normal’ and technology changing by the nano-second – not the minute, hour, or day – companies are accepting the realization of the importance of upskilling and reskilling.
For many, this was never a consideration since education was considered a perk rather than a talent development that would serve the company in a variety of ways well into the future. In short, like companies paying for an individual’s MBA, education was merely used to drive employee loyalty and engagement.
That said, companies are beginning to invest in upskilling and reskilling employees. Here are a few of the many currently invested:
* Price Waterhouse
Furthermore, companies are becoming more eager not only to develop employee hard skills but soft skills such as communication, relationship-building, and decision-making, for example. Skills that will come to the fore as absolutely necessary with the myriad changes emerging in the future. Some are even considering offering coaching and full-scale training as well.
Here are 5 Tips to Help You Prepare for These Changes:
1) Research each company you plan to apply to. Discover whether training
is included as part of the job description instead of a benefit; and gather the details. There may be some requirements to qualify.
2) Upskill or Reskill. Search for information on upskilling or reskilling. Which skills do you possess which can be repurposed and redeveloped to create a new career? Find classes or training to help you move in this direction.
3) Make a Career Pivot Pointe. A work shift is slowly emerging. With the work-world changing, work and career experts say it’s time to more than just consider career changes you’ve had in mind. Today it’s called career pivoting. It’s time to take the bull by the horns, pivot, and move forward. For example – had you thought about changing industries but worried about leaving your current job which during the pandemic you discovered you were burned out on. Have you considered moving to a city that supports an industry you are interested in joining? Or moving to a state with colleges and universities you can attend and receive your degree in a specialized area, for example.
4) Get Certified if you have an in-demand skill. Today, certifications are accepted by most companies and considered as valuable as a degree. There are thousands of areas in which you can become certified as well as online courses. And, remember, today people with certifications are paid well – if not more – than those with degrees.
5) Work on your Soft Skills. While there is training available online since Soft Skills are personal skills you’ve developed throughout your life, regularly practice them and consider learning new Soft Skills. Current top Soft Skills companies are looking for in employees are:
* Critical Decision-Making
* Team Building
* Communications Skills
* Relationship Building
* Problem Solving
Over the last few years, there is a growing awareness the academic world is failing to provide the education required for working in the business world.
While a good college education is valuable, in today’s ‘new normal’ to move forward, a graduate needs to learn a skill; or several for that matter.
The Edelman Trust Barometer stated, in a 2020 study:
* 58% of respondents feared losing their jobs due to lack of training;
* 84% said it was important for their CEO or leader to speak out on training for
jobs in the future.
In short, people are putting trust in their employers to help them navigate the future. But whether they provide it is another question.
It’s a fact – to execute their plans companies will need to set in motion employee upskilling and reskilling. Not only is it cost-effective – the fact is training and learning aren’t perks – they are necessities for helping employees continue to provide top performance.
A word of caution – don’t wait for them to do so. Take responsibility and make your own Career Pivot Pointe to ensure your success.