How to Start a Reskilling Strategy for your Workforce

December 25th 2019

When we compare how we work today to ten years ago, it’s easy to see how technology has infiltrated the workplace. This transformation in the workplace is only going to intensify over the next ten years. As new technologies continue to emerge, jobs, as we know them today, will be changed forever. In fact, most experts agree that many jobs will be lost permanently due to improved technologies.

This transformation will endanger the livelihoods of not just your workers, but your company, as well. After all, without the right workers in the right jobs, your company will have trouble growing and remaining competitive in your given industry.

It’s essential, if not obligatory, for employers to go beyond simply filling job openings and to understand what the future of their workplace looks like. Recognizing the upcoming technological shift and its impact will help employers prepare workers for these changes and equip them with the skills they need to succeed in the new flexible and adaptive business models of the future.

 

Traditional Workforce Planning and Development at Risk

There is no doubt that workforce planning, as we know it today, will change. This fact is inevitable since machines will take over many of the company’s current routine tasks. While this transition is likely to create more prosperity for the company, it will also dramatically change the look of your workforce.

Many jobs as we know them will be lost, while new jobs that don’t even exist today will start to emerge. Not only new skills will be needed for the human-machine collaboration, but companies will also be more likely to hire for project-based work that requires specific knowledge or a unique skill set, and for hybrid positions. This changing landscape within the workforce will ultimately change the way companies see employability.

For example, job descriptions, as we know them today, will become fluid and adaptive subject to the continuous transformation of the business landscape. This change will force workers to reimagine themselves, over and over again, just to stay relevant to the company. This transformation of jobs will require companies to shift the focus from workforce planning to work planning to skills management.

 

Creating a Reskilling Strategy for the Entire Workforce

It’s predicted that between 6 to 12 percent of today’s job tasks can be automated within the next ten years. While this is a harsh and scary reality, it’s important for businesses to take action now. After all, low-skilled workers are not the only ones that will be affected as the age of the digital economy continues to transform the workplace. The truth is that positions at all levels are in jeopardy.

In order to remain competitive as a company, HR needs to rethink workforce planning, especially for lower and secondary level positions and for those workers who are over 40 years old. HR must have a reskilling plan in place that helps to equip these specific workers with the skills they need to develop not only to be relevant to the company but also to have a competitive advantage in their profession.

Without a large-scale reskilling strategy in place, these individuals are at a higher risk of technological displacement and unemployment. In addition, the absence of a reskilling strategy could cause companies to lose many of its top-performing employees, which could be both costly and time-consuming to replace. The right reskilling strategy can equip your best workers with the skills they need to transition with the digital economy and to continue to grow with your company for many years to come.

 

Action Plan for Reskilling: New Work Management

As the AI initiative continues, businesses are likely to take a closer look at the real value its workers add to the company. Employers will look for ways that workers can improve performance, deliver a higher ROI, and promote growth within the company.

Employers will want workers that are creative, highly specialized in their field of expertise, and ones that can create cross-function collaboration, including machine-based relationships. Therefore, the new HR perspective and focus must be on work management and creating a reskilling strategy with the end-results in mind.

  1. First, this will mean that companies need to start by determining what they hope to achieve not just in the short-term, but as a long-term strategy. They can do this by first assessing the overall business goals by departments and by identifying the tasks needed to achieve these goals. Most importantly, companies must understand how to incorporate their unique USP in a way that attracts and retains the top talent they need to thrive.

     

  2. Secondly, companies must frequently assess skill requirements for the workforce. At least once a year, employers should create an overview of both the current and future skills needed in the workforce. Understanding the skill sets your company needs will help prepare both leaders and lower and secondary employees for the future.

     

  3. Thirdly, companies must consistently evaluate the need for new and emerging jobs. As new skills are needed within the company, it’s likely that new or hybrid positions must be developed to keep the company on track. It’s vital to assess this need on a regular basis and to develop a plan to reskill the current workforce to meet the future needs of the company.

At Tulsie, we provide employers with valuable insight into the changing skill set of the workforce and how this transformation will require new or hybrid roles within the company. We help business leaders understand what these new roles look like and how to redesign job specifications to attract candidates with the right skills. Learn more about how to reskill your workforce within an adaptive business model by contacting Tulsie today.

Written by: Sushila Ramkisoensing


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