Upskill Is The Mantra To Corporate Longevity

With the advent of artificial intelligence in the technological world, more and more jobs are getting automated.

What does that mean?

It simply means that people will no longer be needed to do the conventional jobs.

So, does that also mean that people won't be having any work in the future?

Of course not. People will have new kinds of jobs. There will be a need of some new skills. According to the market intelligence survey, technological skills, specialty skills in the field of business, as well as science, social and emotional skills will be much in demand, while physical and manual skills like general engineering skills, coding skills and documentation will be automated.

A recent report by McKinsey estimates that by 2030, around 800 million people can lose their jobs due to automation and about 375 million people will need to learn new skills.

So, what are the organisations doing to reskill their employees?

The most important thing that many organisations are focusing on is to bring in tech-based learning, which can reskill the employees on automation and how to manage the automation process.

Several companies have introduced various reskilling programmes like Robotic Process Automation, Artificial Intelligence, Internet of Things, Cybersecurity, Blockchain, Virtual Reality, Big Data Analytics, Cloud Computing and 3D Printing.

What other steps are the organisations taking to upskill their employees?

All the organisations are taking few basic steps to upskill their employees.

1. They are helping the employees to review their own skills and decide on what kind of upskilling do they require.
2. Since a one-size-fits-all training does not hold true anymore, organisations are providing customized training to the employees according to their needs.
3. Organisations are collaborating with educational institutions to streamline the training process and are also advising them to revise their curriculum according to the recent demands.
4. Organisations are also bringing in new talents in the team so that the older employees get motivated to reskill themselves.
5. Organisations have also started rewarding and recognizing the employees who take extra efforts to reskill themselves.
6. Apart from reskilling the employees, organisations have also started looking for opportunities to find temporary workers who have the necessary skills and can work on short-term assignments.

Hence, the data given above and the efforts taken by the organisations in upskilling their employees undoubtedly establish the fact that upskilling is the need of the hour. However, it should also be known that upskilling of the employees is not a one-time process. 42% of the CEOs say that they are in a process of continuously implementing training programmes for their employees because that is the only way to survive in the market.