Webinar Recap: Future-Proof Your Workforce and Transform Talent Through Upskilling
Published On: September 1, 2022
It’s no secret that employers across the nation are searching for innovative ways to not only attract talent amid the Great Resignation and record inflation, but also to retain proven leaders within their organizations. As a result, more organizations are turning to upskilling, the process of learning new skills and embracing agility in a constantly changing marketplace, to serve this need.
In fact, some of the nation's top employers have recently announced significant investments in upskilling talent, underscoring a larger need to secure the future of the workforce and evolve.
In our recent webinar, Eric Shepherd, the Founder and President of The Foundation for Talent Transformation, spoke about how changing technology and evolving patterns of work require workers to continuously learn and pivot. What’s more, Shepherd shared with attendees a framework for employers to better understand talent transformation, including how to measure performance, readiness, and behaviors.
Below are a few highlights from the webinar. Couldn’t make the live event? Not to worry. “Future-Proof Your Workforce and Transform Talent Through Upskilling“ is now available for on-demand viewing.
Research on Upskilling
A 2020 PwC report on upskilling and talent found that 74% of CEOs are worried about the skills of their teams in an increasingly automated and digital world. However, among those CEOS, only 18% reported having made "significant progress" in building upskilling programs.
Additional research done by Gallup in a report titled “The American Upskilling Study: Empowering Workers for the Jobs of Tomorrow” found that access to upskilling is becoming a sought-after employee benefit and a powerful tool to attract talent.
Specifically, the study found that 48% of American workers would switch to a new job if offered skills training opportunities. Additionally, an incredible 65% of workers believe employer-provided upskilling is “very important” when evaluating a potential new job.
A final piece of data: 8.6% is the average salary increase for American workers who recently participated in an upskilling program (or about $8,000 on average higher than those who did not).
The World Economic Forum’s Skills Outlook
Shepherd related a brief history of upskilling to webinar attendees, noting through several examples that upskilling and reskilling talent is not a new phenomenon. In fact, perhaps most notably in recent history via the Industrial Revolution and the advent of automation, employees and employers alike were forced to evolve to meet changing circumstances and needs.
According to a recent piece from the World Economic Forum, a select group of skills is declining among workers while another group of skills is growing.
For instance, skills in the “growing” category include the following: creativity, originality, and initiative; leadership and social influence; emotional intelligence; critical thinking and analysis; analytical thinking and innovation; and leadership and social influence.
Skills in the “declining” category, in contrast, include the following: management of personnel; quality control and safety awareness; manual dexterity, endurance, and precision; technology installation and maintenance; coordination and time management; and memory, verbal, auditory, and spatial ability, among others.
Watch the On-Demand Webinar Now
For more in-depth information and access to a viable framework to help HR managers and leaders, tune in to watch the complete on-demand webinar “Future-Proof Your Workforce and Transform Talent Through Upskilling.”
Plus, be sure to check out Mployer Advisor’s past webinars by searching through our library of on-demand content.
And don’t forget to subscribe to This Week in Benefits, a new biweekly podcast from the team at Mployer Advisor! Find the latest episode on combatting workplace burnout and access the show notes here.
Director of Content, Mployer Advisor