The reskilling race- If you’re not first, you’re last.

BLOG: The reskilling race— If you’re not first, you’re last.

Tom Loder

June 22, 2022

As we finally (and thankfully) appear to be turning the corner on COVID-19 and its impact on corporate survival, employers are again facing the gripping reality of a skills and knowledge crisis. For most industries and employers, the pandemic actually further exacerbated the gaps and highlighted more clearly the skills they now require for long-term operational survival and growth.

Greater adoption of technology will mean demand for skills will change over the next five years and fast. Industry groups and employers need to act.

This is not an issue that’s isolated to one region, or one industry. The World Economic Forum estimates that by 2025, 85 million jobs may be displaced by a shift in the division of labour between humans and technologies. And, for existing workers in existing roles, 50% will need reskilling by 2025. On the flip side, it is predicted that close to 100 million new jobs may emerge as a result of the greater usage of technology, machines and algorithms. So, work is changing, industries are evolving and employers and workers need to adapt and in most cases get retrained and reskilled.

For most employers, regardless of industry, the question is “how”?

While the need to upskill and reskill workers for long-term operational success is widely accepted, many employers have neither the time nor the expertise needed. Further, many don’t even know what skills they need, where to access training content, or what technologies they may need. In fact, a recent study suggested over 63% of organizations have not equipped managers with access to upskilling resources for staff development.

While large organizations can afford their own internal skill development experts and training solutions, most SMBs cannot. Broadly accessible insights and solutions are required for the majority of employers that need support in trying to remain relevant in today’s rapidly changing economies.

Public & Private Sector Collaboration

In response to the challenge, Governments around the globe are providing funding and engaging with industry and private training and technology providers to assist. In Canada, the Federal Government now provides approximately $3.6 Billion in funding for skill development initiatives on an annual basis.

The pandemic impact led to an additional investment of $1.5 billion to support employers requiring talent and new skills to bolster the industry-wide rebound. And, most recently, a new $300 million Skills for Success Program was launched to help workers with foundational skills to get and keep a job, and adapt and succeed at work.

So, Governments are stepping up and making skill development a priority, and Provinces/States along with partnering industry and training groups are availing of the funding…but, now what?

From Funding to Action— and Solution Accessibility

Having access to federal funding is great, but first, industry stakeholders and employers themselves must understand their skill gaps, and what is needed. And technology is playing a role here. In fact, more than 40% of HR leaders surveyed say they are increasing their investments in talent analytic tools and modernizing HR hiring and training practices to do just that. Then, it’s all about continuous training and the utilization of online training platforms and content.

How will employers and workers without access to corporate Learning Management Solutions access relevant training?

The solution lies in public/private sector delivery of NexGen workforce training platforms and solutions that offer industry-endorsed and curated content for the benefit of workers that stretch across many employers. And, regardless of what private sector company(s) are supplying the actual training solutions, there are several key attributes for success:

Relevant & Modern Content— Upskilling and reskilling training content must be modernized and offer greater accessibility through eLearning (versus in-class). As importantly, it must be developed in collaboration with credible industry experts, align with regulatory standards (as required) and meet the needs and expectations of Regulators.

True Integration— The chosen platform technology must link all stakeholders digitally and allow for online account access for training providers, employers, and trainees to manage, access, complete, and track training and facilitate the sharing of credentials— in real time.

Top-Down delivery— The delivery approach must offer efficient and effective delivery at a macro-level, for the benefit of all stakeholders in the region or industry. As such, platform provisioning must be upleveled to Government Agencies and/or Industry groups to enable single line-of-sight sponsorship, accountability, and accessibility for all.

These are just a few examples of the core functionality and requirements needed within industry-wide upskilling and reskilling technologies— and what Government agencies, training providers, industry groups and technology experts are collaborating on to deliver in alignment with Federal commitments and funding.

Time is of the Essence

The global skill gap challenge is not an easy one to solve. The fix requires an “all hands on deck” mentality and shared accountability from Government sponsors through to the individual worker. It also requires innovative workforce training solutions that can handle the workload.

For us here at Bluedrop, our role is clear. We support our Province/State and Industry customers and partners, offering workforce training solutions and our SkillsPass training platform to help get upskilling and reskilling training, whether online, virtual, or in-person, to the masses— and fast.

It is a race after all.

Visit us to learn more about SkillsPass, and how this unique training platform enables a complete upskilling/reskilling solution for Province/State/Industry deployment for the benefit of all employers.

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