Focus on upskilling and reskilling employees to meet evolving job requirements
By Sandeep Budhiraja
In the midst of the 4th industrial revolution, our world is undergoing unprecedented technological advancements that are fundamentally altering industries and the job market. The relentless march of digital transformation has ushered in an era of ever-evolving technologies, demanding that individuals and businesses alike keep pace with the rapid changes.
The job market, too, is experiencing a profound shift, with certain roles and tasks being automated or augmented by cutting-edge technologies. From artificial intelligence and machine learning to the Internet of Things and blockchain, organisations need to strategically adopt and apply these advancements to gain a competitive edge.
Research from WEF has showcased that 97 million jobs are expected to be created in the industrial revolution 4.0.
As a consequence, the need for skilled employees is more important than ever, so employees and companies can adapt to the advanced landscape easily.
Gartner HR Research has reported that 58% of the current workforce will need new skill sets to do their jobs successfully in the future.
The report put the spotlight on the desperate need for reskilling and upskilling in every sector across industries. And, the time to start is now!
Dynamic Nature of Job Requirements
Digital emergence in the job market has become the major reason for changing the job landscape for individuals and businesses. As new roles continue to evolve, the demand for advanced capabilities and a deep understanding of these cutting-edge technologies has given rise to skill gaps within the current workforce.
Gaining a competitive edge in the era of fast-paced business is vital to stay ahead. That can be achieved only by bridging the existing gap between the skills employees seek and the skills available in the market.
Addressing the skill gaps in the job market is not only an economic imperative but also a social responsibility. As technology continues to shape the future of work, ensuring equitable access to educational and training opportunities becomes paramount.
Importance of Upskilling and Reskilling
Bridging the existing skill gaps in the job market, upskilling and reskilling have taken the top of the priority list for companies. Even then, both terms have different significance within a business.
Upskilling requires employees to learn new skill sets to perform productively in their current role while reskilling is when employees master skills to take on a new job within the company.
Upskilling empowers employees to succeed in their current job as well as helps them being confident and knowledgeable in their field of expertise – even if that field changes and develops.
Reskilling is a tool to retain high-performing employees by making them learn and train into new skill sets whose original job function with your organization is no longer needed due to automation or software updation.
Benefits for Organizations and Professionals
Investing in your workforce reskilling and upskilling will arm them with skill sets to stay ahead in the competitive trajectory. Also, it highlights your company’s values and employees’ career ambitions. Putting the center of focus on development, you can ensure your employees become lifelong learners to handle future challenges. Let’s take the case ‘How AI will change the nature of jobs in the IT environment?’
While there are concerns that artificial intelligence (AI) may replace certain job roles in the IT industry, it is essential to acknowledge that it will also bring about tremendous changes and opportunities. Here are a few ways AI will transform job roles in the IT industry, and new opportunities will come in.
- Emphasis on strategic thinking
- Enhanced cybersecurity
- Creation and maintenance of AI systems
- Data analysis and interpretation
- AI integration and optimization
- Ethical considerations
Upskilling and reskilling: As AI evolves, there will be a shift in job requirements, necessitating continuous upskilling and reskilling of IT professionals. IT workers will need to acquire skills in areas like AI programming, algorithm development, data analytics, and cybersecurity to stay relevant and take advantage of new opportunities created by AI.
Overall, while AI may disrupt certain job roles in the IT industry, it will also create new roles and open up exciting possibilities. It will empower IT professionals to focus on higher-value tasks, promote innovation, and augment their capabilities. Adapting to the changing
Conclusion
A culture of curiosity and growth inspires employees to embrace learning as a means of personal and professional advancement. When organisations value learning, employees are more likely to be motivated, engaged, and committed to their roles. This, in turn, drives innovation, creativity, and overall success for the company.
Failure to understand the needs and demands of new-age skill sets can lead to job obsolescence and decreased workforce productivity. The rapid pace of digital transformation means that skills can become outdated quickly, making it imperative for companies to invest in continuous learning initiatives.
Embracing a culture of learning can significantly impact an organisation’s ability to adapt to changes and avoid the need for constant firing and hiring. When employees are equipped with the right skills and knowledge, they become more agile and capable of handling new challenges effectively.
(The author of the article is Sandeep Budhiraja, Co-Founder, Executive Director, Chief People Officer, BYLD Group, and the views expressed in the article are his own)
