Key Thoughts

Training is least likely to help those most in need

The World Economic Forum emphasizes that it is crucial for employers to support their current workforces by training in order to address the skills gap.

Employers indicate that they are set to prioritize and focus their reskilling and upskilling efforts on employees currently performing high-value roles as a way of strengthening their enterprise’s strategic capacity, stating they intend to target employees in key roles and in frontline roles which will be using relevant new technologies.

Furthermore, 41% of employers are set to focus their reskilling provision on high-performing employees while a much smaller proportion of 33% stated that they would prioritize at-risk employees in roles expected to be most In other words, those most in need of reskilling and upskilling are least likely to receive such training.

See The Work Economic Forum: The Future of Jobs (http://www3.weforum.org/docs/WEF_Future_of_Jobs_2018.pdf) for more information.

Your best employees are made, not found

The World Economic Forum emphasizes that it is crucial for employers to support their current workforces through training in order to address the skills gap. Within the next five years, it is expected that over 50% of employees will require significant reskilling and upskilling.

Meeting this demand through traditional recruitment methods is simply impossible, there are insufficient skills on the market to tap-into in the first place. Developing your existing talent is the only option to keep up to date and achieve your business goals.

This will require some bold steps and new ideas.

The Skills Gap Threatens Progress

According to a survey by PwC, 77% of CEO’s see the availability of key skills as the biggest threat to their business.

Furthermore, 80% of business and IT Executives expect skills and knowledge in 10 years to have little resemblance to their organizations today; there is an urgent need to implement a continuous learning model into today’s operations simply to survive.

Successful enterprises of the future will become learning businesses, where lifelong learning is becoming part of the culture and the natural way of working within the organization.

The Rate of change continues to accelerate, keeping pace with the change requires a new model where knowledge is available at the point of demand and the point of need. A knowledge as a service model which delivers the company needs.