The rapid pace with which technology is evolving today brings forth an array of opportunities not imaginable previously. Businesses whose structure encourages adaptability and reshaping are positioned to make the most of this technological surge; which can only be achieved with the right mindset, a growth mindset. Human capital is the driving force behind the success of an organization, and investing in employees’ upskilling and reskilling to harness the possibilities of this digital era brings about relevance, engagement, productivity and ultimately results in the success of the organization at large.
Watch: Upskilling At Work
Many large companies are now embracing the idea of bettering their workforce by offering on-the-job training and cultivating a growth mindset amongst their employees, as exemplified by a market survey by Deloitte. Through recent market surveys, Deloitte found out that 90% of organizations are redefining jobs, 32% of which are substantially at it. This is in line with the forecast of 54% of all employees needing reskilling or upskilling in the coming three years, according to a report from the World Economic Forum. It has also been gathered that employers are keener on reskilling rather than recruiting and are accommodating for Learning and Development in their future financial plans.
Based on its findings, Deloitte recommends a DevWork strategy; word reminiscent of DevOps, which in the perpetually evolving IT industry refers to design-develop-test-operate models.
What is DevWork?
DevWork intertwines development and work and calls for a model where the learning process is integrated within the workflow, diffused in small doses throughout the work-day. For a durable integration of this self-optimization whilst working approach, joint accountability between 1. workers and their organizations, 2. businesses and their human resources departments, and 3. among governments, educational institutions, and organizations, needs to be established and incentivized.
DevWork: The Bigger Picture
Attracting and retaining the right professionals is likely to be one of the challenges of the next decade. From a study from the management consulting firm Korn Ferry, a global talent shortage of 85M people is expected by 2030. The benefits of bettering existing human assets by investing in Learning and Development programs are not limited to retaining the right talents, though.
- Less Costly to the Business: Reskilling and upskilling existing employees also cost significantly less to companies than hiring new ones.
- Keeping a Globally Aging Labor Force Engaged: With an increase in life expectancy, the current workforce has the potential of contributing more useful years to society than before. Reskilling ensures decades of individual productive contribution to society at large.
- Competitivity in the Pursuit of Success: Implementing the latest solutions to conquer business constraints and empowering staff with the skillsets needed to pilot these ensures relevance, competitiveness, and success of the organization.
- Human Nature: Engagement, relevance, and productivity form part of the same equation, and equipping employees with the latest advancements in the field positively impacts this equation.
Has DevWork Been Implemented By Any Business?
Thanks to new advancements in technology, partaking in personalized training whilst at the job is now seamless. Short courses covering specific topics can be easily learned remotely; all it takes is an internet connection and a device to access the course portal. Businesses can now easily equip their employees with knowledge and skills to reap on the benefits within a short amount of time.
One such platform is Skillupcentral.com, a repository of implementable knowledge to give you the decisive business edge!