Effective Ways to reskill Global Workforce

In terms of large-scale job displacements, the effects of the global pandemic 2020 remain consistent. Whilst global pandemic disturbed businesses and work opportunities all around the world, 50% of key competencies for employability would have to be re-skilled by the year 2025.

As challenges await, implementing effective adjustments to enhance sustainable jobs in today’s highly competitive digitalized and streamlined work environment is crucial. In contrast to the negative effects of the global pandemic on sectors of the economy and business activities, it has resulted in a positive approach of the people towards online training and education, as well as quantification of its scope.

The World Economic Forum launched the ‘Reskilling Revolution’ at their 50th annual convention in January 2020 to address the challenges of an economic and technology-driven market. The World Economic Forum initiated this programme to provide education, skills, and jobs to one billion people by 2023.

In response to the COVID-19 pandemic, the World Economic Forum’s Future of Jobs study, 2020, recommends prioritising cloud computing, big data, and e-commerce. According to the report, 43% of organisations may reduce their workforce as a result of technology integration, while 34% expect to expand their personnel as a result of technology integration.

The talent gap is widening as the in-demand abilities are likely to alter. Around 40% of employees are expected to undergo reskilling for roughly six months, and a staggering 94% of employers require their staff to take up new skills and technology.

We’ve come up with some practical approaches to reskill the global workforce in order to remedy this scenario and close the skills gap:

Access to connectivity, technology and devices:

The pandemic has drastically altered the digital landscape, increasing the risk of losing one’s job and requiring people to learn new skills. This problem can be solved with the cooperation of both corporations and their employees.

Businesses must ensure that their employees or workers have access to essential digital technologies and receive thorough training. Businesses must be accountable for providing relevant technology and devices to their staff so that they can quickly adjust and check for connectivity concerns.

Promote skill-based credentials environment:

Displaying digital credentials such as digital certificates and digital badges can considerably improve the ability of low-skilled individuals to demonstrate mastery in new learning skills. These Digital Credentials allow anyone without a college diploma or prior experience to obtain the necessary skills for in-demand digital careers online in as little as three months.

EdTech organisations such as UpGrad, Coursera, and Udemy have already enabled the digital infrastructure to improve learners’ educational experiences and to issue digital credentials based on blockchain technology.

Tailored learning programs:

Based on current economic and digital trends, businesses and educational institutions must reinvent and redefine their business strategies. Furthermore, they must enable customised learning programmes to cover the skill gap imposed by the pandemic crisis.

The learning programme should be designed in such a way that it identifies in-demand abilities while also being relevant to the role. Customized learning programmes are cost-effective when implemented with strategic planning and help organisations grow.

To acquire the experience of in-person learning, virtual learning programmes can be strengthened by incorporating digital technologies, augmented reality, and live video sessions.

In Conclusion:

Despite the fact that the pandemic scenario is complicated and has resulted in some persistent changes in the working environment, addressing the need to reskill the global workforce and taking swift action will prove businesses beneficial in the long term.